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Co-op Bank makes £204m loss as chief postpones recovery
THE scandal-hit Co-operative Bank saw losses nearly triple in the first six months of 2015 and warned yesterday that its recovery would take at least another two years.
Its performance remained dominated by the Co-op Group’s crisis two years ago, which drove it to the brink of collapse, and would continue to be for “some time,” the bank said.
Half-year losses rose dramatically to £204.2 million from £77m a year ago as the bank counted the cost of moves to put it on the road to recovery. It confirmed that it would not return to profit until at least 2017.
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