Co-Op Bank Reports Profits On Rise in First Half of Year

Summary


The Co-operative's financial services arm has reported an 11 per cent rise in half-year profits, despite ongoing tough conditions in its banking business.

The group, which last month merged with Staffordshire lender Britannia Building Society to create a mutual with pounds 70 billion in assets and nine million customers, reported an underlying surplus of pounds 81.4 million in the 28 weeks to July 25.

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Extract


Co-Op Bank Reports Profits On Rise in First Half of Year

But its banking operation suffered from the ongoing caution o...

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