Media playback is unsupported on your device

Co-op Bank to raise extra £400m after hole discovered

24 March 2014 Last updated at 14:06 GMT

The troubled Co-op Bank says it needs to raise another £400m after the discovery of additional costs related to past misconduct.

The biggest part of the additional costs relates to PPI mis-selling and lapses in the provision of mortgages.

The bank said the discovery meant it would make a loss of £1.2bn to £1.3bn for 2013.

Simon Gompertz reports.

Copyright © 2015 BBC. The BBC is not responsible for the content of external sites. Read more.

This page is best viewed in an up-to-date web browser with style sheets (CSS) enabled. While you will be able to view the content of this page in your current browser, you will not be able to get the full visual experience. Please consider upgrading your browser software or enabling style sheets (CSS) if you are able to do so.