You are here

Co-Operative fails BOE stress test; RBS, Lloyds barely pass

All other banks clear the test which took place during a series of financial-stability exams across EU

BT_20141218_STRESS18E131_1417370.jpg
Co-Operative Bank, which signalled earlier in December it would flunk the stress test, says it will try to cut residential mortgage assets and doesn't expect to be profitable before 2017.

London

CO-OPERATIVE Bank failed the Bank of England's (BOE) first public stress test of the country's lenders as Royal Bank of Scotland (RBS) and Lloyds Banking barely passed.

Co-Operative said it plans to cut an additional £5.5 billion (S$11.27 billion) of assets by 2018, while

sentifi.com

Market voices on:

grab

Receive $80 Grab vouchers valid for use on all Grab services except GrabHitch and GrabShuttle when you subscribe to BT All-Digital at only $0.99*/month.

Find out more at btsub.sg/promo

Powered by GET.comGetCom