DBRS: Co-operative unaffected

DBRS said that the ratings of the Co-operative Bank plc, including its long-term debt and deposits rating of A, are unaffected by the bank's announcement of 2011 results.

The trend is stable.

DBRS said it views the co-operative's 2011 results as evidencing resilient earnings generation ability in a challenging operating environment, a well-managed balance sheet and the enhanced strength of the franchise. For 2011, the co-operative reported a profit before tax of £54.2 million, compared to £48.9 million a year ago.

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