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Virgin Money's first-half pretax profit up 26 percent

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Virgin Money's first-half pretax profit up 26 percent

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(Reuters) – British challenger bank Virgin Money Holdings Plc <VM.L> posted a 26 percent rise in first-half underlying pretax profit, helped by growth in the bank’s core mortgages, savings and credit card businesses. Underlying pretax profit rose to 128.6 million pounds ($167.68 million) for the six months ended June compared with 101.8 million pounds a year earlier. The lender said in a separate statement that its chairman Glen Moreno is to retire in 2018.

(Reporting by Noor Zainab Hussain in Bengaluru; Editing by Rachel Armstrong)
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