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Business

The Co-op bank, which has branches in Kent, has put itself up for sale

By: Louisa Britton

Published: 16:00, 13 February 2017

With just a couple branches in Kent, the Co-operative Bank has announced it has put itself up for sale.

The bank has more than four million customers and 600 branches across the country but is hoping to sell all its shares.

It had almost collapsed in 2013 and in less than five years went from having seven branches in Kent to just two.

Video: Co-op bank to sell all its shares

It said it has put itself up for sale to "meet the longer term capital requirements applicable to all UK banks".

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It comes as the sector is moving more and more towards mobile and online banking.

Several branches, including in Tunbridge Wells and Sevenoaks, closed last year.

TSB, which was formed after it separated from Lloyds in 2013, might be a potential buyer but it is thought that a move towards a purchase would not necessarily affect customers in the foreseeable future.

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