Bank set to report £1.2bn loss next month
The Co-operative Bank is set to reveal a £1.2bn loss next month and needs to raise a further £400m to pay customer compensation for a raft of mis-selling activities.
The bank last week delayed publication of its annual results from this Wednesday until 17 April after group chief executive Euan Sutherland resigned, branding the group “ungovernable”.
A review of the business by its new management had revealed breaches in the consumer credit act, PPI mis-selling, interest rate swaps and compensation for third-party insurance that was sold with its current accounts.
The bank said it needed to raise £400m to pay the “conduct and legal documentation” charges.
The 2025 Insurance Times Awards took place on the evening of Wednesday 3rd December in the iconic Great Room of London’s Grosvenor House.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Many congratulations to all the worthy winners and as always, huge thanks to our sponsors for their support and our judges for their expertise.
No comments yet