Co-op Bank

Co-op Bank to announce details of rescue deal

Co-op Bank to announce details of rescue deal

Co-operative bank is planning to announce more details relating to the rescue deal, which was reached during the previous weekend and some suspect that hundreds of jobs might be at risk as the bank looks to address its financial troubles.

It is believed that the under the terms of the deal, the bank's creditors including hedge fund, will take up about 70 per cent of the shares in the bank. Some say that the bank might cut around 1,000 jobs at its branches as some of the branches might be closed.