The Co-operative Bank p.l.c. Due Diligence
Run due diligence on The Co-operative Bank p.l.c.: check compliance and get alerts when suppliers or ownership change.
United Kingdom · owned by The Co-operative Bank Holdings Ltd (United Kingdom) · co-operativebank.co.uk · 26 vendors
The Co-operative Bank is a retail and commercial bank in the United Kingdom, with a focus on ethical banking. It offers a range of personal and business banking products and services, including current accounts, savings, mortgages, loans, and credit cards.
Resilience scores
- Digital Sovereignty: 4
- Digital Resilience: 4
- Financial Resilience: 7
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Insights
Last updated 2026-08-11 · revision 14
26 direct vendors, 231 subvendors
Direct vendors by controlling owner country (sample)
- United States: 18
- South Korea: 1
- UK: 2
Subvendors by controlling owner country (sample)
- New Zealand: 1
- Netherlands: 2
- Finland: 1
Financials
Three-year financials
- 2023: revenue £537M, EBIT £71.4M, equity £1,650M
- 2022: revenue £493M, EBIT £132.6M, equity £1,538M
- 2021: revenue £349M, EBIT £31.1M, equity £1,459M
Financial Resilience Score: 7/10
The Co-operative Bank p.l.c. demonstrates strong financial resilience following a decade-long recovery from its 2013 capital crisis. The bank maintains a very strong capital position with CET1 ratios in the 19-21% range, well above UK regulatory minimums and above peer challenger banks. It has achieved three consecutive years of statutory profit in 2021-2023, marking a sustained return to profitability after years of losses tied to legacy Britannia Building Society exposures. The bank benefits from a stable, largely retail funding base, with over 90% of funding from customer deposits that are granular and largely covered by FSCS. The 2024 acquisition by Coventry Building Society for £780m in cash provides additional scale, mutual-sector stability, and lower funding costs from 1 January 2025 onward. However, the bank remains heavily exposed to UK interest rate movements, with profits sharply geared to base rates and NIM. A rate-cutting cycle in 2024-2025 is likely to compress margins. The mortgage-concentrated loan book (~70-75% of net loans in UK residential mortgages) ties credit quality to UK house prices and unemployment trends. Cost-to-income ratio in the mid-60s% remains higher than the most efficient challengers, and integration risk with Coventry Building Society is a near-term concern.
Key strengths: Very strong CET1 capital ratio of 19-21%, well above regulatory minimums, Stable retail deposit funding base (~90%+ of funding), Three consecutive years of statutory profit (2021-2023), Ethical brand positioning supports customer loyalty, Acquisition by Coventry Building Society provides scale and mutual-sector stability, UK-only operations reduce cross-border regulatory complexity
Risk factors: High interest rate sensitivity - profits heavily geared to UK base rates and NIM, Mortgage-concentrated loan book tied to UK house prices and unemployment, Legacy remediation and IT modernisation costs keep cost-to-income ratio elevated, Integration risk with Coventry Building Society (brand, IT platform, colleague transition), Limited scale vs UK 'big five' banks constrains cost-per-customer economics, PBT declined ~46% from 2022 to 2023 as one-off gains unwound
Revenue by geography
- United Kingdom: 100%
Revenue by product/service
- Retail Mortgages: 72%
- SME/Business and Commercial Banking: 13%
- Treasury and Other: 10%
- Retail Unsecured (credit cards, personal loans, overdrafts): 5%
Workforce by country
- United Kingdom: 3500
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