Co-op bank 'needs a further £400m'

Press Association
Updated
File photo dated 07/11/11 of a general view of a Co-operative Bank branch. The bank has revealed a setback to its recovery after admitting it needs to raise another ?400 million to cover past issues. PRESS ASSOCIATION Photo. Issue date: Monday March 24, 2014. See PA story CITY Coop. Photo credit should read: Rui Vieira/PA Wire
File photo dated 07/11/11 of a general view of a Co-operative Bank branch. The bank has revealed a setback to its recovery after admitting it needs to raise another ?400 million to cover past issues. PRESS ASSOCIATION Photo. Issue date: Monday March 24, 2014. See PA story CITY Coop. Photo credit should read: Rui Vieira/PA Wire

%VIRTUAL-SkimlinksPromo%The Co-op's banking arm revealed a setback to its recovery today after admitting it needs to raise another £400 million to cover past issues.

The business, which is set to report full-year losses of up to £1.3 billion for 2013, said the matters relate to conduct and legal documentation, such as legacy PPI business and technical breaches of the Consumer Credit Act.

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