LONDON, Aug 22 (Reuters) - Britain’s Co-operative Bank reported a narrower loss for the first six months of 2014 and said it was encouraged by progress to improve stability, but there was more to be done.
The bank reported a pretax loss of 75.8 million pounds ($126 million), a big improvement on the 844.6 million pound loss it made a year earlier.
“By the measures of capital and liquidity the bank is considerably stronger than it was a year ago,” Chief Executive Niall Booker said in a statement on Friday.
“We are ahead of schedule in the disposal of non-core assets and have improved governance, particularly at board level. However, the issues we continue to face in building a sustainable business are deep rooted and there remains much to be done.” (1 US dollar = 0.6030 British pound) (Reporting by Sarah Young; editing by Tom Pfeiffer)