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Virgin Money's Q1 mortgage lending jumps to 2.1 bln stg

Reuters - UK Focus

LONDON, May 4 (Reuters) - British challenger bank Virgin Money Holdings Plc said gross mortgage lending jumped 30 percent to 2.1 billion pounds in the first quarter, winning a 3.4 percent share of the UK mortgage market.

The bank, which listed on London's main market in 2014, said it expected gross lending volumes to increase year-on-year in 2016 and expected to achieve a net interest margin of about 160 basis points for 2016. (Reporting by Noor Zainab Hussain, editing by Sinead Cruise)