Tsk, why should bankers need to know how to bank?

The Co-operative Group has fallen into the red for the first time since 2013 after writing off the value of its stake in the troubled Co-operative Bank.

The mutual revealed pre-tax losses of £132m for 2016 as it took a £185m hit after slashing the value of its 20pc holding in the Co-operative Bank to zero.

Perhaps Spud could weigh in on this?

3 comments on “Tsk, why should bankers need to know how to bank?

  1. To be fair other banks have made far greater losses and write-offs, I assume they are run by bankers.

  2. Without the write down it would have made £50million profit and paid some tax, no doubt there will be an outrage when the Co-op makes £130million profit next year and pays no tax again.

Leave a Reply

Name and email are required. Your email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.