posted on May, 24 2013 @ 10:32 AM
A few weeks ago the Co-operative Bank got it's debt rating downgraded
to junk and in the uk after it made a loss of £674 million.
It was in the news for a little while with the usual talking heads in the media
telling the public to carry on there was nothing to see here.
If you want to read about it click here
But today this poped up in reuters.
(Reuters) - The Co-operative Bank has stopped offering loans to new business customers, part of measures designed to quell growing
concerns over its capital position. A spokesman for Britain's biggest customer-owned financial services business said it would continue to provide
lending to existing customers. The freeze does not apply to individual retail customers.
"We are not offering new loans to new corporate customers but are continuing to provide facilities for existing customers," he said. Credit ratings
agency Moody's downgraded Co-op Bank's debt ratings earlier in May and warned it could need taxpayers' money to plug a capital shortfall which some
analysts have said could be as high as 1.8 billion pounds.
I was talking to a friend who works for co-op and she said that the dividend payment been
cut so has anyone got anymore info on this?
edit on 24/5/2013 by skuly because: colour not working again