the co-operative bank finance p.l.c.
the co-operative bank finance p.l.c. Company Information
Company Number
11598074
Next Accounts
Jun 2025
Shareholders
the co-operative bank holdings p.l.c.
Group Structure
View All
Industry
Activities of financial services holding companies
Registered Address
1 balloon street, manchester, M4 4BE
Website
www.co-operativebank.co.ukthe co-operative bank finance p.l.c. Estimated Valuation
Pomanda estimates the enterprise value of THE CO-OPERATIVE BANK FINANCE P.L.C. at £3.3b based on a Turnover of £1.2b and 2.74x industry multiple (adjusted for size and gross margin).
the co-operative bank finance p.l.c. Estimated Valuation
Pomanda estimates the enterprise value of THE CO-OPERATIVE BANK FINANCE P.L.C. at £851.3m based on an EBITDA of £84m and a 10.13x industry multiple (adjusted for size and gross margin).
the co-operative bank finance p.l.c. Estimated Valuation
Pomanda estimates the enterprise value of THE CO-OPERATIVE BANK FINANCE P.L.C. at £2.3b based on Net Assets of £1.4b and 1.67x industry multiple (adjusted for liquidity).
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The Co-operative Bank Finance P.l.c. Overview
The Co-operative Bank Finance P.l.c. is a live company located in manchester, M4 4BE with a Companies House number of 11598074. It operates in the activities of financial services holding companies sector, SIC Code 64205. Founded in October 2018, it's largest shareholder is the co-operative bank holdings p.l.c. with a 100% stake. The Co-operative Bank Finance P.l.c. is a young, mega sized company, Pomanda has estimated its turnover at £1.2b with rapid growth in recent years.
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The Co-operative Bank Finance P.l.c. Health Check
Pomanda's financial health check has awarded The Co-Operative Bank Finance P.L.C. a 4 rating. We use a traffic light system to show it exceeds the industry average on 6 measures and has 4 areas for improvement. Company Health Check FAQs
6 Strong
1 Regular
4 Weak
Size
annual sales of £1.2b, make it larger than the average company (£11.7m)
£1.2b - The Co-operative Bank Finance P.l.c.
£11.7m - Industry AVG
Growth
3 year (CAGR) sales growth of 35%, show it is growing at a faster rate (9.2%)
35% - The Co-operative Bank Finance P.l.c.
9.2% - Industry AVG
Production
with a gross margin of 78.9%, this company has a comparable cost of product (78.9%)
78.9% - The Co-operative Bank Finance P.l.c.
78.9% - Industry AVG
Profitability
an operating margin of 5.9% make it less profitable than the average company (9.5%)
5.9% - The Co-operative Bank Finance P.l.c.
9.5% - Industry AVG
Employees
with 3305 employees, this is above the industry average (65)
3305 - The Co-operative Bank Finance P.l.c.
65 - Industry AVG
Pay Structure
on an average salary of £46.5k, the company has a lower pay structure (£83k)
£46.5k - The Co-operative Bank Finance P.l.c.
£83k - Industry AVG
Efficiency
resulting in sales per employee of £368.7k, this is more efficient (£212k)
£368.7k - The Co-operative Bank Finance P.l.c.
£212k - Industry AVG
Debtor Days
it gets paid by customers after 6816 days, this is later than average (46 days)
6816 days - The Co-operative Bank Finance P.l.c.
46 days - Industry AVG
Creditor Days
its suppliers are paid after 34818 days, this is slower than average (48 days)
34818 days - The Co-operative Bank Finance P.l.c.
48 days - Industry AVG
Stock Days
There is insufficient data available for this Key Performance Indicator!
- - The Co-operative Bank Finance P.l.c.
- - Industry AVG
Cash Balance
has cash to cover current liabilities for 5 weeks, this is less cash available to meet short term requirements (27 weeks)
5 weeks - The Co-operative Bank Finance P.l.c.
27 weeks - Industry AVG
Debt Level
it has a ratio of liabilities to total assets of 94.6%, this is a higher level of debt than the average (54.1%)
94.6% - The Co-operative Bank Finance P.l.c.
54.1% - Industry AVG
THE CO-OPERATIVE BANK FINANCE P.L.C. financials
The Co-Operative Bank Finance P.L.C.'s latest turnover from December 2023 is £1.2 billion and the company has net assets of £1.4 billion. According to their latest financial statements, The Co-Operative Bank Finance P.L.C. has 3,305 employees and maintains cash reserves of £2.7 billion as reported in the balance sheet.
Data source: Companies House, Pomanda Estimates
| Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 | Dec 2019 | Dec 2018 | |
|---|---|---|---|---|---|---|
| Turnover | 1,218,700,000 | 755,900,000 | 521,500,000 | 491,500,000 | 606,700,000 | |
| Other Income Or Grants | ||||||
| Cost Of Sales | ||||||
| Gross Profit | ||||||
| Admin Expenses | ||||||
| Operating Profit | 72,000,000 | 139,000,000 | 32,200,000 | 82,100,000 | 154,600,000 | |
| Interest Payable | ||||||
| Interest Receivable | ||||||
| Pre-Tax Profit | 71,400,000 | 132,600,000 | 31,100,000 | -103,700,000 | -152,100,000 | |
| Tax | 58,300,000 | -110,500,000 | 166,200,000 | 8,000,000 | -900,000 | |
| Profit After Tax | 129,700,000 | 22,100,000 | 197,300,000 | -95,700,000 | -153,000,000 | |
| Dividends Paid | ||||||
| Retained Profit | 129,700,000 | 22,100,000 | 197,300,000 | -95,700,000 | -153,000,000 | |
| Employee Costs | 153,700,000 | 126,400,000 | 117,500,000 | 149,600,000 | 162,600,000 | |
| Number Of Employees | 3,305 | 2,677 | 2,630 | 2,890 | 3,357 | |
| EBITDA* | 84,000,000 | 174,300,000 | 68,800,000 | 88,600,000 | 160,300,000 |
* Earnings Before Interest, Tax, Depreciation and Amortisation
| Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 | Dec 2019 | Dec 2018 | |
|---|---|---|---|---|---|---|
| Tangible Assets | 257,500,000 | 190,200,000 | 83,900,000 | 113,200,000 | 158,000,000 | |
| Intangible Assets | 145,400,000 | 123,000,000 | 68,500,000 | 63,400,000 | 75,300,000 | |
| Investments & Other | ||||||
| Debtors (Due After 1 year) | ||||||
| Total Fixed Assets | 402,900,000 | 313,200,000 | 152,400,000 | 176,600,000 | 233,300,000 | |
| Stock & work in progress | ||||||
| Trade Debtors | 22,759,400,000 | 22,341,100,000 | 22,643,500,000 | 20,557,100,000 | 20,211,600,000 | |
| Group Debtors | ||||||
| Misc Debtors | ||||||
| Cash | 2,708,300,000 | 5,270,400,000 | 5,696,900,000 | 3,877,800,000 | 2,153,500,000 | |
| misc current assets | 20,300,000 | 13,200,000 | 21,700,000 | |||
| total current assets | 25,668,400,000 | 27,819,600,000 | 29,268,900,000 | 25,422,900,000 | 23,202,200,000 | |
| total assets | 26,071,300,000 | 28,132,800,000 | 29,421,300,000 | 25,599,500,000 | 23,435,500,000 | |
| Bank overdraft | ||||||
| Bank loan | ||||||
| Trade Creditors | 24,505,500,000 | 26,688,400,000 | 27,417,100,000 | 23,909,300,000 | 21,500,200,000 | |
| Group/Directors Accounts | ||||||
| other short term finances | ||||||
| hp & lease commitments | ||||||
| other current liabilities | ||||||
| total current liabilities | 24,601,700,000 | 26,800,600,000 | 27,635,500,000 | 24,040,400,000 | 21,692,500,000 | |
| loans | ||||||
| hp & lease commitments | ||||||
| Accruals and Deferred Income | ||||||
| other liabilities | ||||||
| provisions | ||||||
| total long term liabilities | 60,600,000 | 33,200,000 | 33,900,000 | 84,700,000 | 131,100,000 | |
| total liabilities | 24,662,300,000 | 26,833,800,000 | 27,669,400,000 | 24,125,100,000 | 21,823,600,000 | |
| net assets | 1,409,000,000 | 1,299,000,000 | 1,751,900,000 | 1,474,400,000 | 1,611,900,000 | |
| total shareholders funds | 1,409,000,000 | 1,299,000,000 | 1,751,900,000 | 1,474,400,000 | 1,611,900,000 |
| Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 | Dec 2019 | Dec 2018 | |
|---|---|---|---|---|---|---|
| Operating Activities | ||||||
| Operating Profit | 72,000,000 | 139,000,000 | 32,200,000 | 82,100,000 | 154,600,000 | |
| Depreciation | 12,000,000 | 35,300,000 | 36,600,000 | 6,500,000 | 5,700,000 | |
| Amortisation | ||||||
| Tax | 58,300,000 | -110,500,000 | 166,200,000 | 8,000,000 | -900,000 | |
| Stock | ||||||
| Debtors | 418,300,000 | -302,400,000 | 2,086,400,000 | 345,500,000 | 20,211,600,000 | |
| Creditors | -2,182,900,000 | -728,700,000 | 3,507,800,000 | 2,409,100,000 | 21,500,200,000 | |
| Accruals and Deferred Income | ||||||
| Deferred Taxes & Provisions | ||||||
| Cash flow from operations | ||||||
| Investing Activities | ||||||
| capital expenditure | ||||||
| Change in Investments | ||||||
| cash flow from investments | ||||||
| Financing Activities | ||||||
| Bank loans | ||||||
| Group/Directors Accounts | ||||||
| Other Short Term Loans | ||||||
| Long term loans | ||||||
| Hire Purchase and Lease Commitments | ||||||
| other long term liabilities | ||||||
| share issue | ||||||
| interest | ||||||
| cash flow from financing | ||||||
| cash and cash equivalents | ||||||
| cash | -2,562,100,000 | -426,500,000 | 1,819,100,000 | 1,724,300,000 | 2,153,500,000 | |
| overdraft | ||||||
| change in cash | -2,562,100,000 | -426,500,000 | 1,819,100,000 | 1,724,300,000 | 2,153,500,000 |
the co-operative bank finance p.l.c. Credit Report and Business Information
The Co-operative Bank Finance P.l.c. Competitor Analysis
Perform a competitor analysis for the co-operative bank finance p.l.c. by selecting its closest rivals, whether from the FINANCIAL AND INSURANCE ACTIVITIES sector, other mega companies, companies in M 4 area or any other competitors across 12 key performance metrics.
the co-operative bank finance p.l.c. Ownership
THE CO-OPERATIVE BANK FINANCE P.L.C. group structure
The Co-Operative Bank Finance P.L.C. has no subsidiary companies.
Ultimate parent company
1 parent
THE CO-OPERATIVE BANK FINANCE P.L.C.
11598074
the co-operative bank finance p.l.c. directors
The Co-Operative Bank Finance P.L.C. currently has 9 directors. The longest serving directors include Mr Morteza Mahjour (Dec 2019) and Ms Louise Britnell (Mar 2021).
| officer | country | age | start | end | role |
|---|---|---|---|---|---|
| Mr Morteza Mahjour | United Kingdom | 63 years | Dec 2019 | - | Director |
| Ms Louise Britnell | United Kingdom | 45 years | Mar 2021 | - | Director |
| Mr Mark Parker | United Kingdom | 60 years | Sep 2023 | - | Director |
| Mr Brendan O'Connor | United Kingdom | 59 years | Jan 2025 | - | Director |
| Mr Martin Stewart | United Kingdom | 58 years | Jan 2025 | - | Director |
| Mr Iraj Amiri | United Kingdom | 71 years | Jan 2025 | - | Director |
| Ms Caroline Marsh | United Kingdom | 61 years | Jan 2025 | - | Director |
| Ms Joanne Kenrick | United Kingdom | 58 years | Jan 2025 | - | Director |
| Mr Stephen Hughes | United Kingdom | 52 years | Jan 2025 | - | Director |
P&L
December 2023turnover
1.2b
+61%
operating profit
72m
-48%
gross margin
79%
+0.12%
turnover
Turnover, or revenue, is the amount of sales generated by a company within the financial year.
Balance Sheet
December 2023net assets
1.4b
+0.08%
total assets
26.1b
-0.07%
cash
2.7b
-0.49%
net assets
Total assets minus all liabilities
Similar Companies
the co-operative bank finance p.l.c. company details
company number
11598074
Type
Public limited with Share Capital
industry
64205 - Activities of financial services holding companies
incorporation date
October 2018
age
7
incorporated
UK
ultimate parent company
accounts
Group
last accounts submitted
December 2023
previous names
the co-operative bank finance limited (March 2019)
balloon street issuerco limited (February 2019)
accountant
-
auditor
ERNST & YOUNG LLP
address
1 balloon street, manchester, M4 4BE
Bank
CO-OPERATIVE BANK PLC
Legal Advisor
-
the co-operative bank finance p.l.c. Charges & Mortgages
A charge, or mortgage, refers to the rights a company gives to a lender in return for a loan, often in the form of security given over business assets.
We did not find charges/mortgages relating to the co-operative bank finance p.l.c..
the co-operative bank finance p.l.c. Capital Raised & Share Issues BETA
When a company issues new shares, e.g. to new investors following a funding round, it is required to notify Companies House within one month of making an allotment of shares.
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the co-operative bank finance p.l.c. Companies House Filings - See Documents
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