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The Guardian - UK
The Guardian - UK
Business
Kalyeena Makortoff Banking correspondent

‘Milestone year’: in its 150th year, the Co-op Bank can see a brighter future

Co-operative Bank sign
The Co-operative Bank, which has weathered a decade of scandals and near failures, has announced its first profit since 2011. Photograph: Murdo MacLeod/The Guardian

Nearly every UK bank has struggled over the past decade managing the fallout of multibillion pound taxpayer bailouts, business scams or devastating IT meltdowns. But few have faced quite as many scandals, near-failures and turnaround efforts as the Co-operative Bank.

During that period the mid-size lender has teetered on collapse, its former chief executive was charged for drug possession, it has been bailed out by a group of hedge funds and it has changed its boss six times in nine years.

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