Britain's Co-op Bank posts further losses as mortgage competition bites
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LONDON (Reuters) - Britain's Co-operative Bank narrowed its losses in the first half of 2019, but warned its profitability was under strain due to intense competition in the mortgage market.The lender posted a statutory pre-tax loss of 38.5 million pounds for the period, compared to a 39.5 million pound loss the previous year.Co-op Bank warned competition in home loans and interest expenses incurred from issuing debt had squeezed its margins, and that they would fall further in the second half..