Co-op Bank CEO says will take four to five years to turn around lender

Reuters

LONDON (Reuters) - Co-op Bank's chief executive said it will take 4 to 5 years to turn around the fortunes of the ethical lender following a 1.5 billion pound rescue which has seen it fall under the control of bondholders.

"You can see by what's happened to other banks, how long it's taken to turn these things around. It's going to take us 4 to 5 years to restructure the bank," Niall Booker told reporters.

(Reporting by Matt Scuffham; Editing by Laura Noonan)

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