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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 ...
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]
On 7 March 2024, Nationwide Building Society, the UK's largest building society, announced that they had made an offer to buy the bank's parent company, Virgin Money UK plc, for £2.9 billion. [57] 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 ...
The proposed deal will create a combined group with around 24.5 million customers, more than 25,000 staff and nearly 700 branches.
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On 12 October 2012 Northern Rock plc was renamed Virgin Money plc, and Virgin Money Limited was renamed Northern Rock Limited. By this time the Northern Rock website had effectively become a 'soft redirect' to Virgin Money's website. In 2024, Nationwide Building Society bought Virgin Money, and aims to rebrand the business to Nationwide in 4 years.
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]
Customers of HSBC, Nationwide and Virgin Money suffered outages to their online banking services on Friday, in the latest such disruption to plague an industry which increasingly relies on such ...