The UK’s Co-operative Group has told its former banking subsidiary that it is considering removing its 2,000 ATMs from its supermarkets, thus deepening the split between the two organisations.
The bank stated: "The ATMs will need to be removed from all Co-operative Group food stores and outlets by the end of 2015."
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The move would leave the bank with just 500 cash machines, amongst which 400 are in other independent Co-op stores. The bank stated that those could also decide to oust it from their sites.
The group, which now holds only a 20% stake in the bank, confirmed it had given notice on the cash-points contracts but admitted that no final decision had been made.
"The group and the Co-operative Bank remain in discussions with regards to the provision of ATMs in group food stores," said a spokesperson.
The two organisations still share a pension scheme with a £700m ($1.2bn) deficit.
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