Loss-Making Co-op Bank Plans Rises for Top Bosses

The Co-operative Bank is set to give top executives pay rises, despite the lender’s huge losses, in order to side step Mark Carney’s ban on paying their staff bonuses.

There are suggestion from within the beleaguered bank that they must lift salaries if they are to stop an exodus from its top ranks.

But the news of the potential pay rises is likely to irk Bank of England governor Mark Carney. In May, he banned the bank from paying bonuses until it showed it had strengthened its fragile balance sheet.