All the updated news related to virgin money

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City

Virgin Money profits boosted by credit card sign-ups

Households are turning to credit cards in increasing numbers, according to Virgin Money as the high street bank revealed a boost in profits. Bosses said pre-tax profits soared to £315 million in the six months to the end of March compared with just ...

05 May 2022 at 10:25

Personal Finance

Santander increasing interest rate on flagship 123 current account

Santander UK is increasing the rate on its flagship 123 Current Account, after previously making a series of cuts. The bank will boost the in-credit interest rate on its 123, Select and Private current accounts by 0.2 percentage points, to 0.5%, ...

08 Mar 2022 at 13:55

City

Atom Bank ‘committed’ to four-day week after early signs of success

The boss of Atom Bank said he is “utterly committed” to the group’s new four-day working week after the move sparked a 500% surge in job applications and boosted staff morale. Mark Mullen, chief executive of the digital lender, said that while ...

10 Jan 2022 at 01:55

City

Virgin Money to hand out £1,000 cost-of-living bonus to staff

Virgin Money has told the majority of its staff they will receive a £1,000 one-off bonus to help with the soaring cost of living. The banking group said all of its employees who are paid £50,000 a year or less, which represents 78% of its ...

19 Jul 2022 at 13:39

Personal Finance

Virgin Money plans to enter buy now, pay later market

Virgin Money is set to launch a new buy now, pay later (BNPL) credit card product. The bank said it plans to enter the BNPL market later this year with Virgin Money Slyce. Any spend over £30 can be spread across three, six, nine or ...

26 Jul 2022 at 15:13

City

Virgin Money says profit margins boosted by higher interest rates

Virgin Money said there are no signs of financial stress among customers as higher interest rates drove up profit margins for the lender. The bank added that it saw a rise in customers opening new accounts, with particular growth ...

02 Aug 2022 at 13:09

UK banks could fail safely as they leave ‘too big to fail’ era behind – report

The UK’s biggest banks are no longer too big to fail and could continue to provide vital services even if they are going through a crisis, according to a report. The Bank of England said that all eight of the high street banks ...

10 Jun 2022 at 10:46

City

Virgin Money reveals 10% pay rise for staff as profits jump

Lender Virgin Money has revealed a 10% pay rise for the majority of its 7,500 staff as it notched up a 43% hike in annual profits thanks to surging UK interest rates. The group said it is giving most workers a rise of around ...

21 Nov 2022 at 11:39

City

Virgin Money optimistic on UK economy but reveals hit to mortgage lending

Virgin Money has revealed a hit to mortgage lending since the end of stamp duty tax relief and as it battles amid stiff competition in the market. The group – formerly known as CYBG – reported a 0.5% fall in mortgage ...

01 Feb 2022 at 09:37

City

Nationwide sees profits fall after handing cash to members

Nationwide Building Society has revealed lower earnings over the past year but said it handed out a record amount of cash to its members. The building society reported a statutory pre-tax profit of £1.8 billion for ...

23 May 2024 at 13:19

City

Royal Mail takeover and Carlsberg’s swoop on Britvic in year of mega deals

From mobile phone mega mergers to foreign takeovers of historic British institutions, 2024 has seen a raft of mammoth deals in the corporate sector. As the value of UK stocks have tumbled, UK equities have been ...

26 Dec 2024 at 09:00

Personal Finance

First Direct relaunches its offer of £175 to switch current account

First Direct has relaunched its £175 cash-to-switch incentive on current accounts, at a time when many similar offers have vanished from the market. The bank said it previously saw significant take-up of the ...

07 May 2024 at 00:01

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