• News Feeds
Page last updated at 07:52 GMT, Thursday, 29 March 2012 08:52 UK

Co-op boss: Lloyds bid 'a great opportunity'


The chief executive of the Cooperative Group has said that "they will not be rushed" on an attempt to buy 630 bank branches from Lloyds.

Peter Marks told the Today programme's Simon Jack that this was "a great opportunity to grow our bank and create a challenger bank".

He admitted it was a very complex deal and that the Cooperative Group "may not get there but we will give it a try".

When asked about problems due absorbing Somerfield stores with like-for-like sales down 2% Mr Marks insisted that "the Somerfield acquisition has been brilliant for us".

The companies full year results took a dip in profits of 6% down to £373 million which Peter Marks said "is partly to do with consumers who are under pressure like never before" but also that they are investing £600m to improve their business.

Get in touch with Today via email , Twitter or Facebook or text us on 84844.


Story Tools


Sign in

BBC navigation

Copyright © 2016 BBC. The BBC is not responsible for the content of external sites. Read more.

This page is best viewed in an up-to-date web browser with style sheets (CSS) enabled. While you will be able to view the content of this page in your current browser, you will not be able to get the full visual experience. Please consider upgrading your browser software or enabling style sheets (CSS) if you are able to do so.

Americas Africa Europe Middle East South Asia Asia Pacific