Bloomberg News

Co-Operative Bank Posts Profit of 54.2 Million Pounds for 2011

March 29, 2012

The Co-Operative Bank posted pretax profit of 54.2 million pounds for 2011 compared with 48.9 million pounds a year earlier.

The bank’s plan to buy 632 branches from Lloyds Banking Group Plc (LLOY) is “consistent with our strategy to strengthen our position as a real challenger in relationship banking in the U.K.,” the company said in a Regulatory News Service statement today.

To contact the editor responsible for this story: Jon Menon at jmenon1@bloomberg.net


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