BRITAIN'S Co-operative Bank yesterday reported its third successive year of record profits and reiterated that it was not up for sale.

"The board and our parent company's board have said that our company is not for sale," managing director Mr Terry Thomas said, when asked about a recent approach by Lanica Trust to the bank's owner the Co operative Wholesale Society (CWS).

The bank announced that annual pre tax profits rose by 24 per cent to £45.5 million for the year to January 11th, 1997.

Known for its ethical and environmental stance, the smallest of Britain's clearing banks has only 3 per cent of the market but has successfully targeted higher earning customers by introducing telephone banking and other innovations.