Virgin Money has hailed strong performance in the first quarter of its financial year and believes that the UK economy is recovering from the pandemic.
The rebranded Clydesdale Bank, with offices in Glasgow, released a trading update in which it said there was “some scope for greater optimism about the pace of the recovery”.
The bank said its deposit mix is improving, with overall deposits reducing 2% to £65.5bn, but ‘relationship deposits’ growing slightly to £31bn.
