Co Operative Bank

  • BusinessAOL

    Co-op Bank 'in red until at least 2017'

    The troubled Co-operative Bank has warned it will remain in the red until at least 2017 as losses widened significantly to £204.2 million in the first half of the year. Half-year losses were far higher than the £77 million reported a year

    2-min read
  • NewsAOL

    Co-op troubles 'shocking' says boss

    Co-operative boss Richard Pennycook has admitted the group "let the co-operative movement down in a fairly significant way". Referring to two years of crisis involving a near-collapse and a Methodist minister caught up in a drugs

    3-min read
  • BusinessAOL

    Co-operative Bank fails financial stress test

    The Co-operative Bank has failed a Bank of England test to see how lenders would cope with severe economic stress, which also raised concerns about state-backed Lloyds Banking Group and Royal Bank of Scotland. The troubled Co-op must cut its

    6-min read
  • BusinessAOL

    Co-op offers first 'no-profit' warranty

    The Co-op is claiming an industry first by offering extended warranties on electrical goods without making a profit. The group said the warranty market for electrical items is worth an estimated £1 billion a year in the UK, with consumers

    1-min read
  • BusinessAOL

    New £1.3m boss unveils plans to revive Co-op

    Co-operative boss Richard Pennycook said the business was now ready to rebuild its shattered reputation as he was confirmed as permanent chief executive of the beleaguered food-to-funerals group. Mr Pennycook, who is on a basic salary of £1.3

    4-min read
  • BusinessAOL

    Report blasts Co-op executives

    A damning report into the near-collapse of the Co-operative Bank has laid the blame on executives running the business in the wake of its ill-fated merger with the Britannia building society. Sir Christopher Kelly, author of the review, said:

  • BusinessAOL

    Embattled Co-op reports £1.3bn loss

    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