Feb 28 Virgin Money Holdings Plc reported
resilient demand following Britain's vote to leave the European
Union, helping the bank to a 33 percent rise in full-year
underlying pretax profit.
Underlying pretax profit rose to 213.3 million pounds
($265.07 million) for the year ended Dec.31 from 160.7 million
Gross mortgage lending rose 12 percent to 8.4 billion pounds
in the year, winning a 3.4 percent share of the UK mortgage
However, the lender's impairment charges rose to 37.6
million pounds from 30.3 million, with most of the rise coming
in its credit card business.
The bank said that was a reflection of a sharp rise in its
credit card lending, which rose 55 percent to 2.4 billion
($1 = 0.8047 pounds)
(Reporting by Noor Zainab Hussain and Rahul B in Bengaluru;
editing by Jason Neely)