Co-op scoops sustainable bank award

Co-operative Financial Services has won the Financial Times Sustainable Bank of the Year award, beating 111 other financial institutions from 44 countries.

The award recognises leadership and innovation in social and environmental banking and was announced at a ceremony in London last night.

The awards are backed by the International Finance Corporation and judged by a panel of international financiers. In winning the top award CFS was praised for its unwavering commitment to sustainability, which had seen it maintain strong profitability, growth and ethical leadership over a prolonged period of time.

CFS chief executive Neville Richardson said: "This outstanding achievement takes us a step closer in achieving our vision of becoming the UK's most admired financial services business and I'd like to thank my 12,000 colleagues that have made it possible."

The HSBC was runner-up.