Tweet
Co-op confirms in-store banking plan
26/08/2008 08:22:00
The Co-operative Group is to press ahead with plans to introduce in-store banking services at up to 250 of its largest stores.
The news comes after the Grocer reported in May that the Co-op was set to trial banking facilities at a handful of stores in areas including Nottingham.
According to the Daily Telegraph, those trials could now lead to mini-banks being opened in up to 250 of its largest food stores in a £1m programme.
Stores will offer a range of services, from cash and deposit machines in some outlets to branches with staff offering mortgage and investment advice.
The Co-op will aim to boost cross-selling with customers of its other business arms, including the pharmaceutical and travel sectors.
The news comes after Tesco earlier this month paid £950m to buy the share in Tesco Personal Finance held by joint venture partner the Royal Bank of Scotland, signalling a major push into financial services by the UK’s largest retailer.
Last month the Co-op agreed to buy rival Somerfield in a deal worth around £1.57bn, establishing itself as the UK’s fifth-largest supermarket group.
26/08/2008 08:22:00
The Co-operative Group is to press ahead with plans to introduce in-store banking services at up to 250 of its largest stores.
The news comes after the Grocer reported in May that the Co-op was set to trial banking facilities at a handful of stores in areas including Nottingham.
According to the Daily Telegraph, those trials could now lead to mini-banks being opened in up to 250 of its largest food stores in a £1m programme.
Stores will offer a range of services, from cash and deposit machines in some outlets to branches with staff offering mortgage and investment advice.
The Co-op will aim to boost cross-selling with customers of its other business arms, including the pharmaceutical and travel sectors.
The news comes after Tesco earlier this month paid £950m to buy the share in Tesco Personal Finance held by joint venture partner the Royal Bank of Scotland, signalling a major push into financial services by the UK’s largest retailer.
Last month the Co-op agreed to buy rival Somerfield in a deal worth around £1.57bn, establishing itself as the UK’s fifth-largest supermarket group.
