UK bank blacklists SWFs on ethical grounds

Most of their peers are stepping up their efforts to court sovereign wealth fund revenue, but the UK-based Co-operative Bank is shunning several because of human rights abuses by their controlling governments.

The Co-operative Bank said on Tuesday it had refused £10 million-worth ($19.6 million) of loan applications from companies controlled by sovereign wealth funds.

The bank would not specify which funds it had decided to boycott. However, Freedom House, an independent organisation which me