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UK's Co-Op Bank Posts Massive Losses

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UK's Co-Op Bank Posts Massive Losses
AIRED:
709 million pounds is today's daily digit in Europe - the pre-tax losses for the first half of the year at Britain's Co-operative Bank. Most of it has come from bad loans being written off. Technology problems and customer compensation made up the rest. The heavy losses come as no surprise for the struggling bank. Earlier this year regulators uncovered a 1.5-billion-pound hole in its balance sheet. And its credit rating was reduced to junk.moreless

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