Co-op Group trumpets £35m spin off for members as it offloads final shareholding in bank
The Manchester-based Co-op Group says its strategy of championing a better way of doing business for its members and their communities has paid off to the tune of £35m.
Members benefited through member rewards scheme by £29m and a further £6m has gone to some 4,000 good causes.
The group also revealed in its half year results that is has sold its remaining 1% holding in the troubled Co-operative Bank to an existing shareholder. In June, the bank agreed a £700m rescue with its lenders that reduced Co-op Group's stake in the... You can carry on reading TheBusinessDesk.com for free, but you have reached the maximum number of pages an unregistered user can view. To register for an account, click here or login below...
