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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 ...
In June 2018, Virgin Money agreed to a takeover by CYBG plc (formed by National Australia Bank (NAB), out of several of its UK subsidiaries, in February 2016) which was completed in October 2018. Virgin Money was merged into Clydesdale Bank plc on 21 October 2019, continuing as a trading name and operating under Clydesdale Bank plc's banking ...
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 ...
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 ...
Virgin Money, the U.K. bank part-owned by Branson, announced last week that it was the subject of a takeover bid from banking rival Nationwide for £2.9 billion, causing its share price to soar.
The proposed deal will create a combined group with around 24.5 million customers, more than 25,000 staff and nearly 700 branches.
Nationwide aims to not make any material changes to Virgin Money's 7,300 employees "in the near term". [31] Virgin Money currently issue Scottish bank notes under the Clydesdale Bank branding. [32] Virgin Money's shareholders approved the deal on 22 May and it is expected to complete by the end of the year. [33]
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