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Nationwide has gained £2.3 billion following its acquisition of Virgin Money, according to the firm’s half-year results. The building society completed its £2.9bn takeover of Virgin Money in ...
A branch of the Northern Rock with Virgin Money branding on Briggate in Leeds. On 13 October 2007, Sir Richard Branson announced that Virgin Group were putting together a consortium of financiers to propose to plough millions into the troubled Northern Rock bank and in return take an approximate 30% stake in the business, bringing the current financial products offered by Virgin and combining ...
The nationalisation followed two unsuccessful bids to take over the bank, neither being able to fully commit to repayment of savers' and investors' money. [ 4 ] [ 5 ] In 2012 Virgin Money completed the purchase of Northern Rock from UK Financial Investments (UKFI) for approximately £1 billion and by October of that year the high street bank ...
In June 2018, CYBG plc announced it would acquire Virgin Money for £1.7 billion in an all-stock deal. Almost one in six employees are expected to lose their jobs in the takeover, which will result in retail customers being migrated to the Virgin Money brand over three years. [17] The acquisition of Virgin Money was completed on 15 October 2018 ...
The lender said it would need to cut costs by £200 million a year, up from £175 million previously, to pay for the investment plans.
On 7 March 2024 Nationwide Building Society, the UK's largest building society, announced that they had made an offer to buy Virgin Money UK plc for £2.9 billion. [4] Under the terms of the deal the resulting company would be rebranded under the Nationwide banner over the next 6 years with the Virgin Money brand eventually disappearing. [4]
Clydesdale Bank (Scottish Gaelic: Banca Dhail Chluaidh) [1] is a trading name used by Clydesdale Bank plc for its retail banking operations in Scotland.. In June 2018, it was announced that Clydesdale Bank plc's holding company, CYBG, would acquire Virgin Money for £1.7 billion in an all-stock deal, and that Clydesdale Bank plc's Clydesdale Bank, Yorkshire Bank and B brands would be phased ...
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