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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 ...
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 ...
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 ...
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]
Virgin Money has apologized to a customer who was scolded by one of the bank’s chatbots after it appeared to confuse its own company’s name for an insult. In a LinkedIn post published last ...
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The nationalisation was a result of two unsuccessful bids to take over the bank, neither being able to fully commit to repayment of taxpayers' money. [ 7 ] [ 8 ] To better control the assets of the bank it was decided to split the company in two, forming the new bank and leaving this company as the so-called 'bad-bank'.
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 ...