Co-operative bank taken over by financiers

The Co-op Bank faced a financial crisis, leading to a shift in ownership from customers to lenders. Despite the change, the bank aims to maintain its ethical standards, which include not investing in the arms trade or companies that test on animals. The original rescue plan was rejected by lenders, resulting in a revised plan where lenders control 70% of the bank. The Co-op Bank's commitment to ethics remains a key concern for its 4.7 million customers.

What was the primary reason for the Co-op Bank's financial crisis?

• A sudden drop in customer numbers

• Mismanagement leading to financial holes

• A failed merger with another bank

• Increased competition from other banks

What percentage of the Co-op Bank will creditors control under the revised plan?

• 80%

• 70%

• 60%

• 50%

What was the initial proposal for the Co-op Bank's creditors in the original rescue plan?

• A majority stake in the bank

• A minority stake in the bank

• No repayment of debts

• Full repayment of debts

What ethical standard does the Co-op Bank maintain?

• Investing in the arms trade

• Testing products on animals

• Avoiding investments in unethical industries

• Prioritizing profit over ethics

How does the Co-op Bank plan to ensure its ethical principles are maintained?

• By changing its management team

• By writing them into the bank's policies

• By increasing customer ownership

• By reducing its number of branches