Co-operative Bank warns of risks after losing £1.3 billion in 2013

Low profits and risk concerns predominant in report by UK-based bank

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Co-operative Bank building in Stockport

In its delayed annual report, the UK-based Co-operative Bank today revealed significant losses of £1.3 billion in the year to December 2013; meanwhile a number of regulatory investigations are forcing executives to focus on restructuring the bank. In addition, the bank does not expect to make a profit in 2014 or 2015. The key risks the Co-op Bank identifies are: the bank's underlying business and financial systems are dated; the bank's control systems are weak; it will take time to embe