Thursday, 10 August 2017

Co-operative Bank sheds 25,000 customers but losses narrow

The Co-operative Bank has said it lost about 25,000 current accounts during the first half of the year amid the uncertainty over its future.

It also saw £400m of instant access savings cash being withdrawn in a period that saw it being put up for sale before a rescue deal was agreed.

However, half-year losses narrowed to £135.2m from £177m last year.

In June, the Co-operative Bank agreed a £700m rescue package to stop itself from being wound up.

The bank said that the deal was progressing to plan and was "on track" to be completed by September.

BBC    News.