- Coventry Building Society is in talks with Co-operative Bank for a potential takeover.
- Ongoing discussions are not exclusive, as per a Sky News report.
- If successful, the merged entities will oversee nearly £90 billion in assets.
- The potential price point for the deal is currently unknown.
- FinTech Futures reached out to both parties for comment; no response was received.
- Co-operative Bank, based in Manchester, has been contemplating a sale since its 2020 split from Co-operative Group.
- Earlier this year, Co-operative Bank considered mergers, acquisitions, and an IPO.
- Shawbrook Bank proposed a £3.5 billion merger deal in August, while a previous attempt with Sainsbury’s Bank did not materialize.
- In 2021, Co-operative Bank explored a merger with TSB, but talks failed after Sabadell, TSB’s owner, rejected the proposal.
