Co-operative Bank

The Co-operative Group has agreed terms with Lloyds Banking Group to purchase 632 bank branches.

Lloyds Banking Group is close to selling some 630 branches to the Co-operative Group at a significant discount to the original price tag of £1.5bn, reports suggest.

A new, standalone British bank under a revived TSB brand could be brought to market after Lloyds Banking Group struggles to complete the sale of its 632-branches known as 'Verde'.

Lloyds Banking Group and the Co-operative are set to agree terms on the sale of 632 of the bank's branches after submitting a revised proposal to the Financial Services Authority (FSA).

The Co-operative Bank is to withdraw its interest-only mortgage range, it has announced.

The Co-operative Group's planned purchase of over 600 Lloyds branches has been thrown into further uncertainty after its chief executive conceded it "may not go ahead".

IFAonline gives its breakdown of five things your clients may have read in the nationals. This week: Absolute return funds come under the microscope, there's mixed news on the High Street, and one paper tips wine as a possible money-spinner for consumers...

Lloyds Banking Group confirmed this morning Co-Operative Bank and NBNK Investments are the last two bidders in the running for its 632 branches and retail assets.

An undercover investigation has revealed widespread poor and misleading advice from financial advisers at some of the highstreet's biggest name banks.

The quality of financial advice given by advisers in high street banks and building societies has come under fire after a mystery shop by consumer watchdog Which?