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Lloyds Banking Group will sell branches to Co-op Bank

14 December 2011 Last updated at 16:19 GMT

Lloyds Banking Group has named the Co-operative Bank as its preferred choice to buy the 632 branches it is selling under European competition rules.

The taxpayer-backed bank will now enter into exclusive discussions with them.

Dominic Laurie told Radio 5 live's Richard Bacon what it meant for the customers who have accounts at those branches.

Richard Bacon broadcasts weekdays 1400 to 1600 on Radio 5 live.

For other 5 live highlights, please visit the best bits page.