Co-op suffers big banking loss

Press Association
Cooperative
Cooperative

The Co-op's swoop for 632 Lloyds branches is under further scrutiny after its banking division racked up annual losses of £662 million.


The mutual said the banking's arm financial strength was "solid" and that it was taking steps to improve its capital position ahead of the planned deal with Lloyds, which must offload the branches to meet state-aid rules.
%VIRTUAL-SkimlinksPromo%