Lloyds's mass branch sale to Co-op proves 'complex'

Lloyds has said that it will update the market on the progress being made on its sale of hundreds of branches to The Co-operative Group (Co-op) in the second quarter due to the 'complex' nature of the deal.

Lloyds has said that it will update the market on the progress being made on its sale of hundreds of branches to The Co-operative Group (Co-op) in the second quarter due to the 'complex' nature of the deal.

The European Commisson-mandated divestment of 632 retail and commercial branches, known as Project Verde, is continuing to make good progress, Lloyds said on Thursday, and key operational sites will join the Verde business to provide telephony, banking operations and mortgage centre support.

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