Profits at Virgin Money have risen on the back of strong growth in unsecured lending, including new credit card customers.
The Newcastle based challenger bank said underlying pre-tax profit for the six months to March 31 had risen 58% to £388m, up from £245m in the same period the year before, though a fall from £556m in the period preceding it.
In its interim financial results, Virgin said it had attracted new customers to its current accounts via attractive switching offers and that it now held about 8% of the UK current account market.
