Thursday, April 06, 2006 

ThisisMoney: Bad debt hits Co-op credit cards A rising tide of credit card debt hit Co-operative Financial Services today after it reported a 16% slump in profits at its banking arm for last year. The slowdown at the Co-operative Bank offset a much improved performance from insurance business CIS, which doubled profits to £37.1m after a modernisation drive announced in the summer of 2004. Overall, CFS profits rose 3.8% to £135.7m in the year to January 14, as it presented integrated results for its banking and insurance operations for the first time.
posted by Johnny  @ 9:22 PM 0 comments


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