Embattled Co-op reports £1.3bn loss
%VIRTUAL-SkimlinksPromo%The Co-op banking arm reported a £1.3 billion annual loss today as it warned its legacy issues will continue to hit its financial performance for some time.
The business, which is now under the control of bondholders following a refinancing to fill a £1.5 billion hole in its balance sheet, said it expects to make losses during this year and in 2015.