trending Market Intelligence /marketintelligence/en/news-insights/trending/N2nocs2v7pzgI4qYWS4u0A2 content esgSubNav
In This List

Report: Co-operative Group reduces value of Co-op Bank stake

Blog

How Financial Institutions are Managing Exposure to U.S. Municipals

Blog

Insight Weekly: Global stock performance; hydrogen pilot projects; Powell's Fed future unsure

Blog

Top 100 Banks: Capital Ratios Show Resilience to the Pandemic

Blog

Banking Essentials Newsletter: October Edition


Report: Co-operative Group reduces value of Co-op Bank stake

Co-operative Group Ltd. wrote down the value of its 20%stake in Co-operative BankPlc to £185 million as of the end of 2015, a year-over-yearreduction of 17%, The (U.K.) Guardian reported April 11, citing thegroup's annual report.

The drop in the stake's value indicates that the bank maynow be worth less than £1 billion, the paper noted, adding that it also meansthat the group's stake is worth less than the £333 million it injected in 2013to keep the lender afloat, the paper noted.

The bank, which recorded a full-year 2015 loss attributable to equityholders of £623.3 million, is expecting to post a loss for 2016 as well.