LONDON, March 24 Britain's troubled Co-operative
Bank said on Monday it planned to raise around 400 million
pounds ($660 million) of additional funds via new shares after
finding that its capital position was weaker than intially
The Bank, which is 30 percent owned by the Co-Operative
Group, said it now expected to post an annual loss
before tax and the impact of the profit generated by the 2013
Liability Management Exercise of between 1.2 billion pounds and
1.3 billion pounds.
Its core equity buffer is now expected to be around 7.2
percent versus the previous guidance of towards the upper end of
a range of below 9 percent.
($1 = 0.6063 British Pounds)
(Reporting by Kate Holton; editing by Paul Sandle)