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Banking group Virgin Money UK upped its annual margin guidance, though its lending and deposit volumes fell in the first quarter.
The company said it now expected its net interest margin for the year through September to be around 175 basis points.
It said growth in higher-yielding lending had been off set by mortgage competition and normalisation of the savings market.
Overall, the company said trading in the three months through December was in line with its expectations.
Deposits in the first quarter fell 2.0% to £65.5 billion and mortgages fell 0.5% to £57.8 billion. Business lending fell 2.2% to £8.3 billion.
'Virgin Money's performance in the first quarter has been strong,' chief executive David Duffy said.
'Our balance sheet is performing well, asset quality remains robust and we have increased guidance on net interest margin for 2022.'
'We are optimistic about the pace of recovery of the UK economy based on growing consumer and business confidence, underpinned by lower unemployment.'