LONDON, April 30 An independent review of the
problems which led to a 1.5 billion pound ($2.5 billion) funding
gap at Britain's Co-operative Bank has concluded the
roots of its problems lay in its 2009 takeover of the Britannia
The report by Christopher Kelly, which was commissioned by
the Co-op last year, said the bank's demise reflected a "sorry
story of failings in management and governance on many levels".
Co-op Bank said it broadly accepted the report's findings.
($1 = 0.5936 British Pounds)
(Reporting by Matt Scuffham, Editing by Paul Sandle)