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Co-op Bank - Comment from Paul Winter

The closure of some branches as part of the deal to secure Co-op Bank's future is far from ideal, but sometimes ethics involves looking after the needs of the many.

Protecting the ethical stance of the Co-op Bank brand is vital if we are to have a diverse banking sector. The decision to enshrine an ethical position into the Co-op Bank's constitution and the Co-op Group's 30% ownership of the bank should help to ensure its continued ethical stance in the marketplace.

Of course we have to await the completion of this new arrangement and to see if the constitution stands up to the test of time, but for now it is good news that this banking brand will be staying on the high street.

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