Virgin Money UK

(: VMUK:LN)

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Profile

Virgin Money UK was formed through the merger between CYBG PLC and Virgin Money. After being divested by National Australia Bank in 2016, CYBG went through a restructuring and recapitalisation process, with mortgages accounting for around 75% of its loan book. Following CYBG's merger with Virgin Money, the loan book has been reshaped again, with mortgages now accounting for more than 81% of total loans, personal loans around 7%, and SME and business loans around 12%. The merger with Virgin Money does provide upside earnings potential, but operating conditions are tough, with business momentum slowing. An upturn in the earnings outlook is needed after several years of disappointment.

Contact Information

Website: www.virginmoneyukplc.com
Email: contact@ir.virginmoneyukplc.com
Main Phone: +44 1412487070
Address: 30 St. Vincent Place
City / Town: Glasgow
Country: GB
Postal Code: G1 2HL

Issuer Information

Exchange: LSE
CEO: David Duffy
Employees: 8991

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