Log in to Personal Banking Skip to content
  1. Home
  2. News
  3. 2013

2013 News

27 December 2013 - The Co-operative Bank p.l.c. and Moorland Covered Bonds LLP Announcement of a Consent Solicitation to Covered Bondholders

£600,000,000 series 2011-1 4.75 per cent. Global covered bonds due November 2021 (ISIN: xs0703266477)


The Co-operative Bank P.L.C. and Moorland Covered Bonds LLP announcement of notice of meeting to covered bondholders

Read more


20 December 2013 - Director Appointment - Alistair Asher

The Board of The Co-operative Bank plc announce the appointment of Alistair Asher as non-executive director with an effective appointment date of 31 December 2013.  Alistair is a nominated director of the Co-operative Group Limited.

Read more


20 December 2013 - Completion of the Liability Management Exercise Announcement

The Co-operative Group and The Co-operative Bank announce the successful completion of their Liability Management Exercise as the cornerstone of the £1.5 billion Recapitalisation Plan for The Co-operative Bank

Read more


20 December 2013 - Director Announcement - Dennis Holt

The Board of The Co-operative Bank plc announce the appointment of Dennis Holt as an independent non-executive director with an effective appointment date of 3 February 2014.  Dennis will act as the Bank’s senior independent director.

Read more


18 December 2013 - Confirmation of Scheme Sanction

The Co-operative Group and The Co-operative Bank Liability Management Exercise – Announcement of sanction of the Scheme by the court; confirmation of the settlement date for the Liability Management Exercise; confirmation of the total amount of Final Repayment Notes and Instalment Repayment Notes to be issued by The Co-operative Group and Bank T2 Notes and New Ordinary Shares to be issued by The Co-operative Bank; de-listing of existing subordinated securities of The Co-operative Bank

Read more


18 December 2013 - Moorland Covered Bonds LLP announcement

The Co-operative Bank P.L.C and Moorland Covered Bonds LLP announcement in relation to amendments to the draft documents in relation to a consent solicitation to covered bondholders


£600,000,000 series 2011-1 4.75 per cent. Global covered bonds due November 2021 (ISIN: XS0703266477)


The Co-operative Bank P.L.C and Moorland Covered Bonds LLP Announcement of amendments to documents

Read more


17 December 2013 - Results of Scheme Meeting

The Co-operative Group and The Co-operative Bank Liability Management Exercise – Announcement of approval of the Scheme by the holders of Dated Notes


Scheme approved by the holders of the Dated Notes at the Scheme Meeting held on 16 December 2013


A total of 625 Scheme Creditors voted, representing approximately 97.63% of the aggregate amount of Scheme Claims across all of the Dated Notes. 617 of those Scheme Creditors voted in favour, representing approximately 99.87% of the votes cast


Successful completion of the Liability Management Exercise now only dependent upon the Scheme being sanctioned by the Court at the hearing scheduled for 18 December 2013 and becoming unconditional in accordance with its terms

Read more


13 December 2013 - Director Resignation

The Co-operative Bank plc announces that Ben Reid, who is one of the Co-operative Group nominated members of The Co-operative Bank plc board, will be stepping down from his role as non-executive director of the Bank, with an effective resignation date of 31 December 2013.

Read more


12 December 2013 - PIK Admission Update

The Co-operative Bank p.l.c. confirms listing and admission to trading of the additional Preference Shares allotted on 29 November 2013

Read more


12 December 2013 - Announcement of the Results of the Exchange Offers and the Bondholder and Shareholder Meetings

The Co-operative Group and The Co-operative Bank Liability Management Exercise – Announcement of the Results of the Exchange Offers and the Bondholder and Shareholder Meetings held on 11 December 2013

Read more


06 December 2013 - Bank Liability Management Exercise

Capitalised terms used and not otherwise defined in this announcement have the meanings given in the Consent and Exchange Offer Memorandum relating to the Liability Management Exercise (the “Consent and Exchange Offer Memorandum”), which is appended to and forms part of the respective Prospectuses published by Co-operative Group and The Co-operative Bank on 4 November 2013.

Read more


05 December 2013 - The Co-operative Bank p.l.c. announces that the following supplement (the Supplement) to the prospectus (the Prospectus) dated 4 November 2013 has been approved by the UK Listing Authority and is available for viewing

The Co-operative Bank p.l.c. announces that the following supplement (the Supplement) to the prospectus (the Prospectus) dated 4 November 2013 has been approved by the UK Listing Authority and is available for viewing: Supplement dated 4 December 2013 to the Prospectus dated 4 November 2013 relating to the issue of 11 per cent. Subordinated Notes due 2023 by The Co-operative Bank p.l.c.

Read more


05 December 2013 - Announcement of a Consent Solicitation to Covered Bondholders

The Co-operative Bank p.l.c. and Moorland Covered Bonds LLP announcement of a consent solicitation to covered bondholders £600,000,000 series 2011-1 4.75 per cent. Global Covered Bonds due november 2021 (isin: xs0703266477) The Co-operative Bank p.l.c. and Moorland Covered Bonds LLP announcement of notice of meeting to covered bondholders

Read more


03 December 2013 - Notice of Court Hearing to consider application for requested modification of the scheme of arrangement for holders of The Co-operative Bank p.l.c.'s lower tier 2 capital securities

Notice of Court Hearing to consider application for requested modification of the scheme of arrangement for holders of The Co-operative Bank p.l.c.’s lower tier 2 capital securities

Read more


29 November 2013 - The Co-operative Group and The Co-operative Bank Liability Management Exercise – Announcement of Early Participation Results and satisfaction of the Early Participation Threshold condition

The Co-operative Group and The Co-operative Bank Liability Management Exercise – Announcement of Early Participation Results and satisfaction of the Early Participation Threshold condition

Read more


28 November 2013 - Modification requested to scheme of arrangement for holders of The Co-operative Bank p.l.c.'s lower tier 2 capital securities

RNS: The Co-operative Group Limited and The Co-operative Bank p.l.c.


Modification requested to scheme of arrangement for holders of The Co-operative Bank p.l.c.’s lower tier 2 capital securities and update on recent events

Read more


27 November 2013 - The Co-operative Bank discretionary coupon on 5.5555% Perpetual Subordinated Bonds

On 4 November 2013, The Co-operative Bank p.l.c. (the “The Co-operative Bank”) announced that, in the context of the Liability Management Exercise announced by The Co-operative Bank and Co-operative Group Limited on that date, it intended to defer the discretionary interest payment on its 5.5555% Perpetual Subordinated Bonds (ISIN: GB00B3VMBW45) (the “5.5555% Bonds”) scheduled for 14 December 2013. The Co-operative Bank is now giving formal notice of such deferral to holders of the 5.5555% Bonds, in accordance with the terms of the 5.5555% Bonds.

Read more


25 November 2013 - The Co-operative Bank p.l.c. announces further details of the payment in kind of 9.25% Preference Shares dividend

The Co-operative Bank p.l.c. announces further details of the payment in kind of 9.25% Preference Shares dividend As announced on 4 November 2013, The Co-operative Bank p.l.c. (the "Bank") intends to allot on 29 November 2013 additional 9.25% Non-Cumulative Irredeemable Preference Shares (ISIN: GB0002224516) (the "Preference Shares") to each holder of Preference Shares instead of cash payment of the dividend scheduled to be paid on 30 November 2013.

Read more


20 November 2013 - Notice of Scheme Meeting

In the High Court of Justice, Chancery Division, Companies Court, In the matter of the Co-operative Bank p.l.c. and In the matter of the Companies Act 2006

Read more


14 November 2013 - The Co-operative Group and The Co-operative Bank Liability Management Exercise

The Co-operative Group and The Co-operative Bank Liability Management Exercise – announcement of Scheme Consideration Amounts and New Ordinary Shares Conversion Price

Read more


05 November 2013 - Restoration of listing to the Official List and trading on the London Stock Exchange

he Co-operative Bank (the " Bank ") announces, following the announcement on 4 November 2013 of the detail of the Bank's recapitalisation plan, that the listing of the subordinated debt securities and preference shares issued by the Bank listed below (the “ Relevant Securities ”) will be restored to the Official List of the UK Listing Authority ("Official List") and to trading on the London Stock Exchange, following a request from the Bank to the UK Listing Authority that such securities be restored to listing.

Read more


04 November 2013 - The Co-operative Bank p.l.c. announces the deferral of interest on its 5.5555% Perpetual Subordinated Bonds and payment in kind of its 9.25% Preference Shares dividend

The Co-operative Bank p.l.c. announces the deferral of interest on its 5.5555% Perpetual Subordinated Bonds and payment in kind of its 9.25% Preference Shares dividend The Co-operative Bank p.l.c. (the “Bank”) has today announced details of its liability management exercise (the “Liability Management Exercise”) in respect of certain of its subordinated capital securities, which include the following securities:

Read more


04 November 2013 - Video message from Euan Sutherland

Following the announcement we have made today (4 November 2013), Euan Sutherland, The Co-operative Group Chief Executive, has recorded a short video message to update members, customers, colleagues and investors on the £1.5bn Recapitalisation Plan for The Co-operative Bank

Read more


04 November 2013 - Notices of Meetings in connection with the Recapitalisation Plan

The Bank announced today details of the Recapitalisation Plan for the Bank. In connection with the Recapitalisation Plan, the Bank is convening a number of shareholder and bondholder meetings, the notices for which can be accessed by clicking the link below.

Read more


04 November 2013 - The Co-operative Group announces Recapitalisation Plan for The Co-operative Bank

Update on The Co-operative Bank’s strategic plan and on the Recapitalisation Plan to generate £1.5 billion of Common Equity Tier 1 for the Co operative Bank to meet the Prudential Regulation Authority’s capital requirement

Read more


28 October 2013 - Director Change

The Board of The Co-operative Bank plc announce the appointment of Bill Thomas as an independent non-executive director with an effective appointment date of today, 28 October 2013.

Read more


25 October 2013 - Update on recapitalisation plan for The Co-operative Bank

The Co-operative Group and The Co-operative Bank PLC


Update on recapitalisation plan for The Co-operative Bank


The Co-operative Group, the Co-operative Bank and bondholders continue to work on the detail of a recapitalisation plan for the Bank. Good progress is being made and it is expected that a further announcement with full details of the plan will be made on 4 November 2013, with the recapitalisation being implemented by the end of the year.

Read more


21 October 2013 - Update on provisions for conduct risk

Since the publication of The Co-operative Bank’s unaudited 2013 first half accounts on 29th August 2013, the Bank has been preparing for the announcement of its recapitalisation plan, which may require the Bank to issue certain public documents. These preparations have included significant due diligence as well as continued management actions, including a review of conduct related issues in the light of recent FCA decisions.

Read more


21 October 2013 - Update on Recapitalisation Plan for The Co-operative Bank

Following the announcements we have made today, Euan Sutherland has recorded a short video to update on our plans for the recapitalisation of the Bank.

Read more


21 October 2013 - Notice of suspension of listing from the Official List and trading on the London Stock Exchange

The Co-operative Bank (the "Bank") announces the suspension of the subordinated debt securities and preference shares issued by the Bank listed below (the “Relevant Securities”) from the Official List of the UK Listing Authority ("Official List") and to trading on the London Stock Exchange, following a request from the Bank to the UK Listing Authority that such securities be suspended from a listing.

Read more


09 October 2013 - Director Changes

The Co-operative Bank plc announces that Duncan Bowdler, Peter Harvey, Bob Newton and Len Wardle will be stepping down from their roles as non-executive directors on the Board of the Bank, with an effective resignation date of 9 October 2013. They will all continue to serve on the Board of The Co-operative Bank plc’s parent, The Co-operative Banking Group Limited.

Read more


29 August 2013 - Interim results for The Co-operative Group for the 26 weeks ended 6 July 2013

The following amendments have been made to the 'Interim Results' announcement released on 29 August 2013 at 7.00am under RNS No 6997M.

Read more


09 August 2013 - Appointment of Non Executive to the Board of The Co-operative Bank Plc

Co-operative Group Limited is pleased to announce the appointment of Euan Sutherland (Co-operative Group Chief Executive) as a Non-Executive Director on the Board of The Co-operative Bank Plc with immediate effect.

Read more


24 July 2013 - Publication of Interim Results

Publication of Interim Results

Read more


12 July 2013 - Launch of Independent Review of Co-operative Bank

The Co-operative Group and The Co-operative Bank today announce the launch of an independent review, to be chaired by Sir Christopher Kelly, into the events that led to the recent announcement of The Co-operative Bank’s capital action plan to address its £1.5bn capital shortfall. Sir Christopher currently chairs the King’s Fund and the Responsible Gambling Strategy Board and previously chaired the Committee on Standards in Public Life, the Financial Ombudsman Service and the NSPCC. He has also been a senior official in HM Treasury. He will begin work on his review in September.

Read more


12 July 2013 - The Co-operative Bank discretionary coupon on 13% Perpetual Subordinated Bonds

In the announcement of 17 June 2013 of its capital action plan, the Board of the Co-operative Bank confirmed that it would only pay discretionary coupon payments on Target Securities with the permission of the Prudential Regulation Authority (PRA).

Read more


17 June 2013 - Interview with Euan Sutherland, Co-operative Group Chief Executive, on the Bank capital plan

The Co-operative Group has announced a plan to address the £1.5bn. shortfall in capital at its Bank. Group Chief Executive, Euan Sutherland, outlines the plan and how it will bring stability to the Bank and reassurance to our customers.

Read more


17 June 2013 - The Co-operative Group announces outcome of review of The Co-operative Bank's capital position

The Co-operative Group announces outcome of review of The Co-operative Bank’s capital position

Read more


05 June 2013 - Director Resignations

The Co-operative Bank plc today (Wednesday 5 June 2013) announce that Martyn Wates has resigned as a Director of both The Co-operative Bank plc and the Co-operative Banking Group Limited, with immediate effect. As previously announced, David Davies will resign as a Director of both these Boards with effect from 12 June 2013.

Read more


27 May 2013 - The Co-operative Group appoints Niall Booker as Bank Chief Executive and Group Deputy Chief Executive Officer

The Co-operative Group is pleased to announce the appointment of Niall Booker as Chief Executive of The Co-operative Bank and Deputy Chief Executive of The Co-operative Group.

Read more


10 May 2013 - The Co-operative Banking Group Statement on Moody's Downgrade

The Co-operative Banking Group has issued the following response to the recent Moody’s rating agency downgrade:

Read more


10 May 2013 - Barry Tootell Leaves The Co-operative Banking Group

Barry Tootell, CEO, The Co-operative Banking Group, has chosen to step down from the business and from the Board of The Co-operative Bank plc. His responsibilities will be assumed with immediate effect by Rod Bulmer, who becomes acting CEO of the Banking Group and a Director of The Co-operative Bank plc, until a permanent replacement is announced in due course.

Read more


24 April 2013 - The Co-operative Group Announcement re: Lloyds Bank Branch Assets

The Co-operative Group announces that it has withdrawn from the process currently being run by Lloyds Banking Group for the disposal of branch assets (“Verde”) after The Co-operative Group and The Co-operative Bank plc Boards decided that it was not in the best interests of the Group’s members to proceed further at this time. This decision reflects the impact of the current economic environment, the worsened outlook for economic growth and the increasing regulatory requirements on the financial services sector in general.

Read more


16 April 2013 - Management Announcement

Read more


16 April 2013 - Management Announcement

The Co-operative Bank plc today announces the appointment of John Baines to the role of Interim Chief Financial Officer for the Co-operative Banking Group with immediate effect.

Read more


21 March 2013 - Non core banking losses adversely impact Group profits


  • Non core banking losses adversely impact Group profits

  • Retail businesses and core Bank deliver results in line with expectations

  • Group announces intention to sell General Insurance business

Read more


15 February 2013 - Management Announcement

Read more


15 February 2013 - Management Announcement

Read more


06 February 2013 - The Co-operative Bank PLC Director Changes

Read more


28 January 2013 - The Co-operative Bank Market Announcement

Read more


25 January 2013 - The Co-operative Bank announces branch network changes

John Hughes, Managing Director - Retail Banking at The Co-operative Bank, outlines planned changes to its bank branches.

Read more


18 January 2013 - The Co-operative Bank New Issue Announcement

Read more


04 January 2013 - The Co-operative Bank Response to FSA Announcement on PPI Complaints

The Co-operative Bank has today, 4th January, responded to the FSA’s findings on the bank’s delays in handling PPI complaints between 21st January 2011 and 9th May 2011 (the relevant period).

Read more


Contact us

If you'd like more help & information, you can:

Chat to us via live chat