Virgin Money 2017 interim results

DividendMax Ltd.

Virgin Money 2017 interim results

Excellent financial performance

Underlying profit before tax increased to £128.6 million, from £101.8 million in H1 2016.

Statutory profit before tax increased to £123.8 million, compared to £93.7 million in H1 2016.

Net interest margin of 1.59 per cent, in line with guidance.

Return on tangible equity increased to 13.3 per cent, from 12.2 per cent in H1 2016.

Cost:income ratio reduced to 53.9 per cent, from 58.8 per cent in H1 2016.

Common Equity Tier 1 ratio of 13.8 per cent and leverage ratio of 3.9 per cent.

Interim dividend of 1.9 pence per ordinary share to be paid in September 2017.

Companies mentioned