What The Papers Say: Co-operative shrugs off playground taunts

Stealing a march on your rivals is difficult enough in the current banking climate; to do so while sticking to ethical and environmental principles is doubly so. Nevertheless the Co-operative Bank’s announcement of a 21 per cent rise in 1997 pre-tax profits surpassed many larger high street competitors.

Stealing a march on your rivals is difficult enough in the current

banking climate; to do so while sticking to ethical and environmental

principles is doubly so. Nevertheless the Co-operative Bank’s

announcement of a 21 per cent rise in 1997 pre-tax profits surpassed

many larger high street competitors.



Its ethical position is winning a disproportionately large number of

young ABC1 customers, ’the muesli-crunching middle classes’, according

to the Daily Telegraph (16 April). However, with deposits and credit

card balances booming in this desirable sector, jibes about ’the

goody-goody bank’ (FT, 20 April) are unlikley to trouble the bank’s

image-makers.



Its ’Partnership Report’ which audited the Bank’s impact highlighted

some of its own failings. Insufficient recycling, for instance, was

picked up the Times City Diary (16 April). The bank received positive

coverage for its plans for a tie-up with the Post Office and a move into

electronic banking in order to increase its appeal to new customers.



Evaluation and analysis by CARMA International. Cuttings supplied by The

Broadcast Monitoring Company. ’What The Papers Say’ can be found at:

www.carma.com.



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