The bank saw roughly 45,000 digital personal and business current accounts opened in Q3, as well as 160,000 new credit cards opened. This follows a record 175,000 new credit cards in Q2

David Duffy, chief executive officer, said: “Virgin Money has had another positive quarter, financially and strategically.

“We’ve grown our balance sheet across all target areas, grown our customer base with innovative and compelling products, and recently announced Slyce, our responsible buy now pay later product. I was also pleased to commence our buyback programme in the quarter.

“Looking out into an uncertain economic environment, while our asset quality remains resilient and customers aren’t yet showing signs of financial stress, we are helping our customers and colleagues navigate what will be a more difficult period for many.”