Monday, 17 June 2013

Co-op Bank unveils rescue plan

Source BBC News@ tienganhvui.com


Concerns about Co-op Bank's capital arose after a deal with Lloyds collapsedConcerns about Co-op Bank's capital arose after a deal with Lloyds collapsed


The Co-operative Bank has unveiled a rescue plan to tackle the £1.5bn hole in its balance sheet.


Most of the capital to be used to plug the hole will come through a "bail in" - a process where bond holders will be offered shares in the bank.


The bank said the plan meant both investors and the group would make "a joint contribution" to the bank's recapitalisation.


"This is good news for the Co-operative Bank," said bank chief Euan Sutherland.





Đăng ký: Tieng Anh Vui

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