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Virgin Money reports gross mortgage lending of 6.5 billion in first nine months

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Virgin Money reports gross mortgage lending of 6.5 billion in first nine months

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(Reuters) – British challenger bank Virgin Money <VM.L> reported gross mortgage lending of 6.5 billion pounds ($8.6 billion) to the end of the third quarter, and said it had seen robust consumer demand with low unemployment and a resilient housing market. Virgin Money said credit card balances were 2.89 billion pounds at the end of September, up from 2.44 billion pounds at the end of 2016. The bank, which listed on London’s main market in 2014, said it expected its full-year CET1 ratio, a closely watched measure of balance sheet strength, to be around 13.5 percent. ($1 = 0.7548 pounds)

(Reporting by Noor Zainab Hussain in Bengaluru, editing by Anjuli Davies)
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