Sale still on: Co-operative Bank says number of 'credible' bidders still interested

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The statement comes after Banco Sabadell on Tuesday joined a growing roster of lenders shunning the chance to snap up the business, with Secure Commit pulling out of the race and Metro Bank stating that it’s only interested in go aways of the lender. 

The bank, which has four million customers, said groundwork expressions of interest must be submitted by the first half of April. 

Updating on the trafficking, it said: “Following an assessment of those preliminary expressions of interest, the bank representations to proceed to a second phase of the sale process where selected bodies will be provided with additional information in order to continue their due diligence with a scrutiny to making an offer for all of the issued ordinary share capital of the bank.” 

Respect, the Co-op Bank said there could be no certainty that a end offer will be made or be accepted by the organisation and its shareholders. 

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