Co-operative Bank Plc Unveils $2.4 Billion Rescue Plan

The Co-operative Bank has unveiled a rescue plan to plug the £1.5 billion ($2.4 Billion) hole in its balance sheet.

The financial plan to strengthen the banking group’s balance sheet is in agreement with the Prudential Regulation Authority, the Bank of England’s new banking watchdog.

Plan Unveiled By The Co-operative Bank

The plan unveiled by the Co-operative bank would involve the bank’s shares to be listed on the stock market for the first time. This historic rescue deal to raise £1.5 billion will...