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Trading statements

Virgin Money reaffirms FY guidance after strong Q1

25 April 2017 07:33

Virgin Money has reaffirmed its FY guidance after a strong Q1.

Gross mortgage lending was £2.0bn in the quarter, a market share of 3.4%. Net mortgage lending was £0.9bn, a market share of 12.3%.

Virgin Money's credit-card balances stood at £2.7bn, with stable customer behaviour and arrears levels.

Its net interest margin was in line with FY 2016, and the bank's FY guidance for 2017 was reaffirmed.

"I am delighted with the ongoing momentum and performance of the business so far in 2017," said CEO Jayne-Anne Gadhia.

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