Virgin Money UK Reported First Quarter Update

  • Jan 29, 2020 AEDT
  • Team Kalkine

After the market close yesterday, Virgin Money UK PLC (ASX:VUK) had reported first quarter update for the period ended 31 December 2019.

  • Customer deposit growth in Q1 was 1.6 per cent to £64.8 billion.
  • Q1 mortgage book reduction was 0.8 per cent to £59.6 billion.
  • Q1 business lending growth was 2.5 per cent to £8.1 billion.
  • Personal lending growth in Q1 was 3.7 per cent to £5.2 billion.
  • NIM for the period was 160bps, VUK expects NIM for FY 20 between 160-165bps.

At around 01:28 PM AEDT, VUK was trading at $3.62, up by 13.12 per cent from the previous close.

 

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