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UK banking group Virgin Money said it expected to swing to an profit profit owing to lower costs and rise in net interest income.
For the year ended 30 September, the company forecast a pre-tax profit of £417 million, compared with a loss of £168 million last year, and a rise a 2% rise in income to £1.57 billion.
'We performed very strongly in FY21, with an expected return to statutory profit before tax underpinned by significant underlying profit growth,' the company said.
Common equity Tier 1, or CET1 ratio, was expected to improve by around 150 basis points to 14.9%.
The company said it aimed to save about £175 million over the next three years.
Looking ahead, the company also said it would resume its dividend.
The intention to declare a dividend of 1 pence per share would be subject to finalisation of full year results and shareholder approval, it added.