Co-op Bank is "firmly on track" to meet its full-year targets and return to "sustainable profitability" by the end of 2021.
The bank has reported an underlying profit of £12.9m for the six months to June 30, 2021, up from a loss of £33.9m during the same period in 2020.
On a statutory basis, the bank's profit totalled £21.4m, a rise from a loss of £44.6m.
Its total income also increased from £148.4m to £168m.
READ MORE: 41 top North West appointments and promotions you shouldn't miss
Chief executive Nick Slape said: "I am delighted to report that the relentless focus on delivering our plan is driving a strong financial and operational performance for the bank.
"As a result of a disciplined approach to cost alongside taking opportunities swiftly as they arise, we have delivered a second consecutive quarter of underlying and statutory profit.
"We have made excellent progress against the strategic priorities that we outlined at the end of 2020, remaining firmly on track to deliver our full year guidance and to return the bank to sustainable profitability this year.
"The Co-operative Bank is well known as a leader in ethical banking and we have been beyond carbon neutral for 14 years now.
"Earlier this month we were awarded the best ESG rating for any UK high street bank from the leading ESG rating provider, Sustainalytics, and we have also been recognised for driving positive change in our communities.
Have you followed our BusinessLive North West LinkedIn page yet? Click here for the latest updates, stories and analysis from across the region.
"To achieve so much whilst at the same time delivering a step-change in financial performance further validates our long-term strategy.
"Our commitment to making a positive difference to our communities has been reinforced by our support for the co-operative sector, through sponsorship of Co-op Congress and the Co-op of the Year awards.
"We’ve also continued to shine a spotlight on the issue of economic abuse, launching a new awareness campaign with our charity partner Refuge, helping people understand and identify where this is happening so they can take action."
