THE Co-operative Group is eyeing a massive expansion of its presence in the Scottish banking market after being named preferred bidder for 632 branches and associated operations being sold by Lloyds Banking Group.
The up-for-sale assets, which Lloyds has been ordered to divest by the European Union as a result of its receipt of billions of pounds of UK state aid, include 185 Lloyds TSB Scotland outlets.
The member-owned Co-operative Group's Co-operative Bank could, by sealing a deal, move in a single step from having only a tiny physical presence in Scotland, in terms of its four branches, to having a fully-fledged network north of the Border.
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