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IN BRIEF: Co-Operative Bank To Return To Profitability As Loss Narrows Thu, 25th Feb 2021 14:57 Co-Operative Bank PLC - Manchester-based mortgage and small business lender - Reports pretax loss for 2020 of GBP103.7 million, narrowed from GBP152.1 million posted in 2019. Says common equity tier 1 was 19.2% a year-end, down from 19.6% a year ago. Posts underlying cost-to-income ratio 114% in 2020 versus 106% in 2019, citing management action on cost and ongoing simplification, strategic contract renegotiations, completion of IT separation, and lower staff costs. Customer net interest margin is 1.46% compared to 1.75% the year before, resulting from sustained mortgage margin pressure. We have met or exceeded the financial performance guidance targets we set ourselves in 2020 and our progress positions us well for a return to profitability in the near future and to continue supporting customers as we move through and beyond this global crisis, says Chief Executive Nick Slape.

United kingdomNick slapeEvelina grecenkoAlliance newsCooperative bankChief executive nickAll rightsஒன்றுபட்டது கிஂக்டம்கூட்டணி செய்திகூட்டுறவு வங்கிதலைமை நிர்வாகி நிக்அனைத்தும் உரிமைகள்