The Co-operative Bank has confirmed it made a loss of £1.3bn for 2013, The losses, in line with expectations, come after the bank's failed bid to buy 632 branches from Lloyds Bank last year. The deal collapsed after the discovery of a £1.5bn black hole in the Co-op Bank's balance sheet. Parent company the Co-operative Group lost control of the bank to US hedge funds who led a bank rescue in December. The bank said it did not expect to make a profit in 2014 or 2015. It also apologised to its 4.7 million customers. Co-op Bank chief executive Niall Booker said: "We appreciate that customers and other stakeholders continue to feel angry about how past failings placed the future of the business so seriously at risk. "I would like to apologise to them, to thank them for their continued loyalty and to thank colleagues for their commitment during such difficult times." The bank said it would not pay out £5m to former executives who left the bank following its near collapse last year......Read more here