It looks like you're using an Ad Blocker.
Please white-list or disable AboveTopSecret.com in your ad-blocking tool.
Some features of ATS will be disabled while you continue to use an ad-blocker.
(Reuters) - The Co-operative Bank has stopped offering loans to new business customers, part of measures designed to quell growing concerns over its capital position. A spokesman for Britain's biggest customer-owned financial services business said it would continue to provide lending to existing customers. The freeze does not apply to individual retail customers.
"We are not offering new loans to new corporate customers but are continuing to provide facilities for existing customers," he said. Credit ratings agency Moody's downgraded Co-op Bank's debt ratings earlier in May and warned it could need taxpayers' money to plug a capital shortfall which some analysts have said could be as high as 1.8 billion pounds.
Originally posted by bigyin
Yes it doesn't look very good at the moment.
This piece gives a overview of the problems faced by the bank.
I actually have an account with them with a few thousand sitting in it. I'm wondering why I havn't moved it yet.
It's a real shame because in my mind the Co-Op bank was better than the rest. Dunno why, just felt like it.