Virgin Money says it has seen a strong performance in the first quarter of its financial year and said it believes the UK economy is recovering from the pandemic.
The bank - which has its main offices in Newcastle, Leeds and Glasgow - has released a trading update in which it said there was “some scope for greater optimism about the pace of the recovery”.
It said that it was improving its deposit mix, with overall deposits reducing 2% to £65.5bn but ‘relationship deposits’ - where current account customers have a linked savings account - growing slightly to £31bn.
