February 27, 2018 / 7:41 AM / 4 months ago

BRIEF-Virgin Money Holdings Full-Year Profit Rises

Feb 27 (Reuters) - Virgin Money Holdings (UK) Plc:

* FY ‍UNDERLYING PROFIT BEFORE TAX INCREASED BY 28 PER CENT TO £273.3 MILLION​

* WE EXPECT TO MAINTAIN SOLID DOUBLE-DIGIT RETURNS IN 2018

* FY ‍COMMON EQUITY TIER 1 RATIO OF 13.8 PER CENT​

* WE EXPECT TO MAINTAIN SOLID DOUBLE-DIGIT RETURNS AND A PROGRESSIVE DIVIDEND IN 2018

* FY ‍CREDIT CARD BALANCES INCREASED TO £3.0 BILLION, FROM £2.4 BILLION IN 2016​

* WE EXPECT TO GROW MORTGAGE BALANCES AT A SINGLE DIGIT PERCENTAGE RATE DURING 2018

* WE ANTICIPATE A BANKING NIM IN RANGE OF 165-170 BASIS POINTS FOR 2018

* WE WILL MAINTAIN A CET1 RATIO OF AROUND 13 PER CENT IN 2018

* ‍EXPECT TO MAINTAIN DOUBLE-DIGIT RETURNS AND A PROGRESSIVE DIVIDEND IN 2018​

* ‍GROWTH IN CREDIT CARD BALANCES WILL BE IN SINGLE DIGITS FOR YEAR​

* ‍EXPECT TO MAINTAIN A DOUBLE-DIGIT RETURN ON TANGIBLE EQUITY IN 2018​

* ‍14 PER CENT INCREASE IN TOTAL CUSTOMER LOAN BALANCES FOR FY Source text for Eikon: Further company coverage: (Reuters.Briefs@thomsonreuters.com)

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