The Co-Operative bank is now closer to securing a buyer after almost collapsing in 2013. A £1.5bn hole in their finances brought about rapid and significant losses, even up to 2016 with the bank operating at a loss of £477.1m in that year. This was attributed to ongoing issues from the previous years as well as very poor interest rates from the bank. Despite this, chief executive of the bank, Liam Coleman suggested that he was pleased with the response the bank has gotten from potential suitors thus far.