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The Latest Breaking News from Virgin Money

Nationwide offers £100 cash gift to members after £2bn profit bonanza

Nationwide decided in March this year to buy rival lender Virgin Money for around £2.9 billion

The Independent UK

Nationwide profits slip but new member benefits promised

Nationwide profits slipped by £200m to £2bn for the year to April it said today, one day after Virgin Money shareholders backed the £2.9bn takeover by the society.

Evening Standard

Virgin Money shareholders vote for Nationwide takeover by big majority

The deal won approval of 89% of voting shareholders, lining up Richard Branson for a £724m windfall from sale

The Guardian - UK

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‘Free money’ and 10% interest: carrots UK banks are dangling to get you to switch

Better deals are on offer in the battle to tempt new current account customers. But, be warned, there are a few strings attached

The Guardian - UK

Sir Richard Branson—who hates being called a billionaire—sees net worth fall back to 2000 levels

Branson took a $126 million hit to his fortune last year as he continued to fight several fires at his Virgin Group.

Fortune

Nationwide's £2.9bn deal for Virgin Money must be stopped — members should sign up

City Voices: Give Nationwide Members a say on the purchase of Virgin Money

Evening Standard

Court case could disrupt Nationwide's takeover of Virgin Money — let's hope it does

City Comment: Virgin Money shareholders get a vote, why don’t Nationwide members?

Evening Standard

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Campaign against Nationwide takeover of Virgin Money puts pressure on board

Society denies ignoring members, but says a vote is not possible

Evening Standard

Nationwide's takeover of Virgin Money could be a disaster for the building society

City Comment: I hope I am wrong about this deal

Evening Standard

Nationwide members deserve a vote on Virgin deal – but won’t get one

With the £2.9bn acquisition having big sway over its future, owners should have a say, but democractic governance is blocked

The Guardian - UK

Nationwide agrees £2.9bn deal to take over Virgin Money

Richard Branson has already indicated he will back takeover that will require the agreement of the group’s shareholders

The Guardian - UK

Nationwide faces mounting calls to give members say on Virgin Money takeover

Experts question if ‘bigger is better’ and whether members should be consulted on the £2.9bn deal

The Guardian - UK

Virgin Money bosses in line for £6m if Nationwide takeover goes ahead

Chief executive David Duffy would be biggest winner on £3.5m, with large paydays for about 12 other staff if deal goes through

The Guardian - UK

Nationwide's .7B Virgin Money Bid Challenges UK Big Banks

Nationwide's .7 billion bid for Virgin Money reshapes UK banking landscape, challenging big banks.

Top News

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The Guardian - UK

So much for the challenge from ‘challenger’ banks

The uncomfortable truth is that size remains an enormous advantage in retail banking

Evening Standard

Nationwide buying Virgin Money is an awful deal

City Comment: Claims that this deal will boost mutuality are hollow

Evening Standard

Nationwide swoops on Virgin Money in controversial £2.9 billion deal

Deal lands £414m windfall to Richard Branson’s Virgin Group

The Guardian - UK

Nationwide to buy Virgin Money in £2.9bn deal

Lenders reach preliminary agreement on key terms in deal to create new competitor with £366bn in assets

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Evening Standard

Virgin Money pushes through second round of mortgage rate hikes in days

Rates are slowly rising again after falling sharply over the winter

The Guardian - UK

Virgin Money faces investor backlash over CEO David Duffy’s £2.6m pay deal

Investment adviser raises ‘accountability’ concerns regarding reward 37 times higher than average employee’s

Evening Standard

Mortgage market finally returning to pre-pandemic levels, Virgin Money says

According to Bank of England data, monthly mortgage approvals have remained between 10% and 20% below 2019 levels ever since the mini-Budget

The Guardian - UK

Treasury to end oversight of £425m scheme to help banks after RBS bailout

Body monitoring use of money given to challenger banks to promote competition to be wound down despite objectives not met

Evening Standard

Mortgage lenders cut rates as gilt yields tumble

“2024 will be the year of the cuts,” one economist said

The Guardian - UK

Isas: UK savers to get freedom to chase better deals as rules change

Shake-up will mean people can pay into more than one Isa of the same type, but experts say £20,000 limit should also rise

The Guardian - UK

Cash Isas back in fashion as interest rates rise to 5%-plus

More savers look set to turn to products that allow them to accumulate cash tax-free

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