By John Glenday

Scandal hit Co-op Bank has shown signs of stabilising its financial position after losses were pared back to £264.2m in 2014 – as it enacts a tough turnaround programme overseen by chief executive Niall Booker.

Whilst still in the red this is a marked improvement on the £688.3m loss racked up in 2013, figures which helped ensure the bank was the only UK lender to fail stress tests set by the Prudential Regulation Authority.

The group is in the process of axing a further 57 branches this year, on top of 72 already closed, and reduced staffing levels by 14 per cent Read full story ›

Source: The Drum