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Co-op takes on Lloyds TSB and C&G branches
9:30am Saturday 21st July 2012 in News
FOUR branches of Cheltenham and Gloucester and two branches of Lloyds TSB in Oxfordshire will be bought by The Co-operative as part of a multi-million transfer.
The two banking groups have signed an agreement which will see 632 branches owned by Lloyds Banking Group become Co-operative banks.
Lloyds branches in Millbrook Square in Grove and Market Place in Wantage will be transferred, as will Cheltenham and Gloucester branches in George Street, Oxford, High Street, Banbury, High Street, Witney and Stert Street, Abingdon.
The Co-op will pay an initial £350m as part of the deal, which will be completed towards the end of next year, with a further £400m based on performance up until 2027.
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