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Virgin Money results beat forecasts but doubts over ability to perform
Challenger bank Virgin Money's (VM.) 2017 results have beaten consensus forecasts, with profits after tax hitting £192.1m, 4% ahead of estimates. Its charge for impairments or bad debts is 25% less than market forecasts.
However, Virgin’s 2018 guidance for its banking net interest margin is at the lower end of its previous 165 basis points to 170 basis points range. This suggests 'some pressure' according to Davy Research analyst Diarmaid Sheridan. (DS)