Co-op Bank

The Co-operative Bank has reported a loss of £610 million for 2015, more than double the amount posted in 2014.

Despite the increased losses, the Bank says it "stronger" than this time last year following a string of measures implemented as a result of its near-collapse in 2013.

The Co-op Bank said it has shored up its balance sheet by cutting staff and closing 58 branches. But £193m in legal and conduct charges contributed a large bulk of the added losses for 2015.

The Bank's chief executive, Niall Booker, said he expects the company to return to profitability by the end of 2017.

He said: "Whilst the Bank as a whole will report a loss before tax in 2016 and 2017, we expect a return to operating profitability in the core bank before the end of 2017."

Its core banking operation dramatically reduced its losses from nearly £80m in 2014 to just £15m last year.