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By Scott Kanowsky
Investing.com -- Virgin Money UK PLC (LON:VMUK) posted a rise in full-year income, as the bank was given a boost from elevated interest rates and credit card spending that helped offset provisions against bad loans that remained above pre-pandemic levels.
Statutory profit on ordinary activities before tax grew by 43% in the twelve-month period to September 30 to £595 million (£1 = $1.1826), which the Newcastle-based lender said was based on the higher rate backdrop. The...
>>> Read more: Higher interest rates help Virgin Money UK post annual profit surge
Investing.com -- Virgin Money UK PLC (LON:VMUK) posted a rise in full-year income, as the bank was given a boost from elevated interest rates and credit card spending that helped offset provisions against bad loans that remained above pre-pandemic levels.
Statutory profit on ordinary activities before tax grew by 43% in the twelve-month period to September 30 to £595 million (£1 = $1.1826), which the Newcastle-based lender said was based on the higher rate backdrop. The...
>>> Read more: Higher interest rates help Virgin Money UK post annual profit surge
