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The proposed deal will create a combined group with around 24.5 million customers, more than 25,000 staff and nearly 700 branches.
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.
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 ...
CEO Debbie Crosbie noted that future profits from Virgin Money would benefit customers. Virgin Money's profit rose to £558 million, driven by cost cuts. [39] Richard Branson, Virgin Money's founder, made £724 million from the deal, which includes £310 million for Nationwide's use of the Virgin Money brand for up to six years. [40]
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 ...
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 ...
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The acquisition of Virgin Money was completed on 15 October 2018. [18] In June 2019, CYBG plc announced its plans to consolidate its businesses under the Virgin Money brand. Clydesdale Bank, Yorkshire Bank and B, which exist as trading divisions of Clydesdale Bank plc will begin to use the Virgin Money name in late 2019 with full use planned by ...