Britannia bank merged with the Co-operative Financial Services
Over the past few months the former Britannia bank merged with the Co-operative Financial Services and therefore Britannia (www.britannia.co.uk) is now a trading name used by the Co-operative Bank plc (www.co-operativebank.co.uk), part of the Co-operative Financial Services group (www.cfs.co.uk), which also includes smile (www.smile.co.uk).
Following the vote at Britannia’s Annual General Meeting on 29 April 2009, Britannia members supported the Board’s recommendation to merge with The Co-operative Financial Services.
Both Britannia and The Co-operative Financial Services had been pursuing their business strategies independently. However, they evaluated that they could be stronger by getting together, and that they would be better placed to provide a fair and ethical alternative to shareholder and government owned banks.
The whole process of bringing their businesses together should take around three years but they will be working as quickly as possible to offer members a full range of products and services.
