Co-op Bank ‘making progress’

THE Co-op Bank says it is making progress in its quest to strengthen its balance sheet, cut costs by closing branches and offer better products.

The loss-making Manchester-based lender, whose recovery after a torrid last two years is still very much work in progress, said it had sold off £1.5bn worth of risky mortgages in its Optimum loan book that it took on after its merger with the Britannia Building Society in 2009.
The deal is strategically important as it will allow the bank to de-risk its balance she... You can carry on reading for free, but you have reached the maximum number of pages an unregistered user can view. To register for an account, click here or login below...