February 8, 2019 / 7:12 AM / 5 months ago

CORRECTED-Nationwide profits fall 21 pct on further digital spend

(Corrects to show profits are 9-month (not quarterly), paragraphs 1,2)

LONDON, Feb 8 (Reuters) - Britain’s bellwether mortgage lender Nationwide Building Society reported a 21 percent fall in profits for the first nine months of the year, after further ramping up investment in digital banking.

Nationwide reported statutory profits of 703 million pounds ($910.31 million) for the nine months to December, compared to 886 million pounds for the same period a year earlier.

Nationwide, the third largest provider of home loans in Britain with a 13 percent market share, also said it expected its retail lending margins to continue to shrink amid intense competition.

$1 = 0.7723 pounds Reporting by Iain Withers; editing by Lawrence White

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