Bank’s losses widen in ‘challenging market’
Losses widened at The Co-operative Bank although the success of its turnaround plan meant it was able to be resilient in the face of the coronavirus pandemic.
But it warned it is "a challenging market for all banks" and it sought to reduce its operating costs following the interest rate reduction to historic lows in March.
It has also assessed the financial cost of Covid-19 to its business as £11m, as its pre-tax losses increased 16% of £44.6m
The Co-operative Bank's chief executive Andrew Bester said: "Whilst we have repor... You can carry on reading TheBusinessDesk.com 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...
