UK-based SME lender Shawbrook Group is exploring a potential £3.5 billion merger with the Co-operative Bank, seeking advice from Barclays, while the Co-operative Bank considers various strategic options including sales, mergers, acquisitions, and an IPO.
Facts
- Shawbrook Group, a UK SME lender, is considering a merger with the Co-operative Bank.
- Shawbrook has reached out to Co-operative Bank’s owners and sought advice from Barclays.
- Co-operative Bank, based in Manchester, split from the Co-operative Group in 2020.
- Co-operative Bank has been exploring options, including potential sales, mergers, acquisitions, and an IPO.
- In 2021, Co-operative Bank discussed a merger with TSB, but it was rejected by owner Sabadell Group.
- Co-operative Bank’s talks to buy Sainsbury’s Bank’s mortgage loan books for £650 million also failed in 2023.
- Shawbrook Group has refrained from commenting on the situation.
