Co-op Bank losses edge up as it struggles with turnaround

LONDON (Reuters) - Britain's Co-operative Bank edged further into the red in 2018 as adjusted pre-tax losses rose slightly due to tough market conditions and higher compensation payouts for past mis-selling of payment protection insurance policies.

The lender's adjusted loss before tax increased to 140.7 million pounds, up from 140.3 million pounds the previous year.

Co-op Bank has struggled to turnaround its performance after its near-collapse and rescue by a consortium of US hedge funds in 2017.

(Reporting by Iain Withers; Editing by Rachel Armstrong)