Rescue plan would allow Co-operative Bank to meet its responsibilities

Euan Sutherland, the group chief executive, has said that the new rescue plan for the bank will allow it to meet its obligations.

He said that the plan will allow the bank to raise necessary capital and help in protecting its ethics and values for the long term. He pointed out that the plan would remain only a plan if it is not backed by thousands of investors who hold preference shares and bonds in the bank. He said that the support from the investors is the key factor in ensuring the survival of the group.