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Personal Finance

Challenger banks jump ahead of industry giants for customer satisfaction

Challenger banks have overtaken high-street banks in a survey ranking how satisfied people and firms are with their services amid the worsening cost-of-living crisis. Starling Bank and Monzo were the top-ranked current account providers, while ...

15 Aug 2022 at 14:03

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 in demand ...

02 Aug 2022 at 13:09

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

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 ...

08 Mar 2022 at 13:55

Personal Finance

Cancer support service rolled out by Virgin Money

Virgin Money is rolling out a financial support service for people living with or affected by cancer, following a pilot scheme. The bank has partnered with Macmillan Cancer Support to launch its Macmillan Guides support service ...

30 Mar 2022 at 12:55

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 lending ...

01 Feb 2022 at 09:37

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 ...

21 Nov 2022 at 11:39

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 ...

05 May 2022 at 10:25

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 ...

10 Jan 2022 at 01:55

City

Virgin Money sees shrinking profits as debt provisions multiply

Challenger bank Virgin Money has reported shrinking profits as it cautioned over a jump in borrowers defaulting on their loans. The lender, which was founded by entrepreneur Sir Richard Branson, said its ...

04 May 2023 at 12:36

Personal Finance

Holiday spending by bank’s customers jumped by 40% annually this spring

Spending on holidays has jumped by 40% compared with a year earlier, according to a bank’s analysis of its customer data. Virgin Money said the total value of spending on getaways increased by 40% when ...

12 Jul 2023 at 13:36

Personal Finance

UK’s biggest mortgage lenders in 2022 ranked

Lloyds Banking Group remained the UK’s biggest mortgage lender last year, lending £52.7 billion in 2022, according to figures from trade association UK Finance. Lloyds had a 16.8% market share in ...

13 Jul 2023 at 14:35

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