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Co-op Bank to launch internet bank subsidiary

The Co-operative Bank will announce it is launching an internet banking subsidiary today according to the Financial Times.


The bank says it plans to undercut its traditional rivals and gain an early advantage in the internet banking arena.


The Co-op will unveil its range of new low cost products in the next few weeks, it says these will reflect the lower costs of doing business on-line.


The bank hopes to attract new customers to the service rather than cannibalising its existing customer base.

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