The bank, which has around four million customers, posted losses of £477.1 million for 2016 Hannah McKay/ReutersThe Co-operative Bank is aiming to raise up to £750 million in new capital as it announced a £477 million loss for last year. The struggling lender is also pressing ahead with a separate search for a buyer, with management “pleased with the interest to date,” according to Dennis Holt, the chairman. The bank’s revelation of its targeted capital needs would involve raising about £300 million of new capital from investors and a probable bail-in of junior bondholders into loss-absorbing equity. It will also aim to raise a further £250 million in debt in 2018. “This is a great bank with a distinctive market position which is much loved by its four million…

Source: The Times March 09, 2017 09:03 UTC