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The Co-operative Bank is facing a capital shortfall of up to £1bn, threatening to disrupt its plans to buy 600-plus branches from state-backed Lloyds Banking Group.
The Project Verde deal was agreed last July, after Brussels forced Lloyds to put the branches up for sale following its state bail-out. However, regulators are expected to outline various banks’ capital shortfalls within weeks, after the Bank of England warned last autumn that the sector was still undercapitalised.....Read more here
Co-op confirms second-round bid for Lloyds' branches: AAD Blog pages: Co-op confirms second-round bid for Lloyds' branches - allaboutFORUMS
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