Co-operative Bank - down £709m
Finance hippies, the Co-operative Group, have plunged to a £559m first-half loss thanks to bad debts in its banking arm wiping out profits their supermarkets.
For anyone who has been refused a Co-op bank account, this is quite funny.
The group have a four-year turnaround plan after reporting pre-tax losses of £709.4m in the six months to the end of June. The Prudential Regulation Authority (PRA) said that all this is of no interest to them and they still want the Co-op to plug the £1.5bn hole in its balance sheet.
The sad news is that this will invariably lead to job losses for staff.
New Co-op big cheese, Euan Sutherland said: "It's inevitable in a restructuring of this size that there will be some jobs at risk," and that the Co-op has "no plan B" for rescuing its bank.
"We are sorry but we are a new team and grasping the nettle and getting on with fixing the situation."