Name: The Co-operative Bank plc
Period covered in this return: 1st July 2015 – 31st December 2015
The brand / trading names covered: The Co-operative Bank, Britannia, smile & Co-operative Bank Financial Advisers Ltd.
|Product / Service Grouping*||Number of complaints opened||Number of complaints closed||Complaints closed within 8 weeks (%)||Closed complaints upheld by firm (%)
General Insurance & Pure Protection (incl PPI complaints)
|Decumulation, Life & Pensions
Putting this into context:
Banking: we received 1.84 complaints per 1000 relevant banking accounts.
Home Finance: we received 9.21 complaints per 1000 relevant home finance accounts.
General Insurance and Pure Protection: we received 9.06 complaints per 1000 relevant general insurance and pure protection products not including PPI. With PPI included we received 114.47 complaints per 1000 relevant accounts.
Decumulation, Life & Pensions and Investments: Co-op Bank continues to resolve complaints relating to advice provided at point of sale for various historic products, which are now either owned or administered by 3rd party firms.
*Explanation of product/service groupings:
Banking: this includes current accounts, savings accounts, credit cards, unsecured loans.
Home Finance: mortgages and home improvement loans.
General Insurance & Pure Protection: includes home insurance products sold under the Britannia brand.
Payment Protection: this includes all Payment Protection Insurance (PPI), Overdraft Protection Insurance (OPI), Card Protection Insurance (CPI) and Mortgage Payment Protection (MPPI).
Decumulation, Life & Pensions: this includes pension products, with profit endowment products, with profit bonds and annuity products. Decumulation products turn existing capital into income in retirement.
Investments: this includes unit trusts and stock & shares ISA products, investment bonds and personal interest bearing shares.
Credit-related: this includes debt purchases & credit broking