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Virgin Money UK PLC

VMUK.L

Latest Trade

186.50GBp

Change

0.80(+0.43%)

Volume

852,046

Today's Range

184.85

 - 

188.70

52 Week Range

64.38

 - 

201.30

As of on the London Stock Exchange (LON) ∙ Minimum 15 minute delay

Latest Developments

Virgin Money Launches Sustainability-Linked Loans For All UK Companies

March 23 (Reuters) - Virgin Money::IS LAUNCHING SUSTAINABILITY-LINKED LOANS (SLL) FOR ALL UK COMPANIES.SLLS WILL REDUCE COST OF FINANCE FOR COMPANIES WHOSE CORE ACTIVITIES HELP THE ECONOMY TRANSITION TO A MORE SUSTAINABLE MODEL.Further company coverage: VMUK.L. ((Reuters.Briefs@thomsonreuters.com;)).

Virgin Money UK Says Permanent Appointment Of Tim Wade As Senior Independent Director From March 10

March 10 (Reuters) - Virgin Money UK PLC <VMUK.L>::PERMANENT APPOINTMENT OF TIM WADE AS SENIOR INDEPENDENT DIRECTOR WITH EFFECT FROM 10 MARCH 2021.

9 Spokes International Signs Framework Services Agreement With Virgin Money

Feb 3 (Reuters) - 9 Spokes International Ltd <9SP.AX>::9 SPOKES INTERNATIONAL LTD - SIGNS FRAMEWORK SERVICES AGREEMENT WITH VIRGIN MONEY.9 SPOKES INTERNATIONAL LTD - AGREEMENT TO DETERMINE PROJECT SCOPE FOR A WORKING CAPITAL HEALTH PROPOSITION.

Virgin Money UK Plc Sees Broadly Stable FY21 NIM

Feb 2 (Reuters) - Virgin Money UK PLC <VMUK.L>::VIRGIN MONEY UK PLC CLYDESDALE BANK PLC - FIRST QUARTER 2021 TRADING UPDATE.VIRGIN MONEY UK PLC - CONFIRMS THAT TRADING IN THREE MONTHS TO 31 DECEMBER 2020 WAS IN LINE WITH BOARD'S EXPECTATIONS..VIRGIN MONEY UK PLC - CUSTOMER DEPOSITS INCREASED IN Q1 BY 0.9% TO £68.1BN.VIRGIN MONEY UK PLC - NIM WAS STABLE IN Q1 AT 152BPS (Q4: 152BPS).VIRGIN MONEY UK PLC - Q1 MORTGAGES REDUCED (0.2)% TO £58.2BN.VIRGIN MONEY UK PLC - CONTINUES TO EXPECT A BROADLY STABLE FY21 NIM (VERSUS FY20 LEVEL 156BPS).VIRGIN MONEY UK PLC - Q1 BUSINESS LENDING WAS +0.1% HIGHER AT £8.9BN.VIRGIN MONEY UK PLC - Q1 PERSONAL LENDING REDUCED (2.0)% TO £5.1BN.VIRGIN MONEY UK PLC - QTRLY CET1 RATIO INCREASED C.50BPS TO 13.9%.VIRGIN MONEY UK PLC - Q1 IMPAIRMENT CHARGE OF £18M EQUATES TO A NET COST OF RISK OF 10BPS.VIRGIN MONEY UK PLC - IN AGGREGATE £726M OF CREDIT PROVISIONS LEAVES GROUP CAUTIOUSLY POSITIONED FOR FORWARD ECONOMIC ENVIRONMENT.VIRGIN MONEY UK - GROUP CONTINUES TO EXPECT TO DELIVER UNDERLYING OPERATING COSTS OF <£875M (INCLUSIVE OF £10-15M OF COVID19 RELATED COSTS) IN FY21.VIRGIN MONEY UK PLC - REAFFIRMS FY21 GUIDANCE AND TARGETS SET OUT AT FY20 RESULTS..

Virgin Money UK FY Underlying Pretax Profit Fell 77% To 124 Mln Stg

Nov 25 (Reuters) - Virgin Money UK PLC <VMUK.L>::CLYDESDALE BANK PLC - FINAL RESULTS.FY UNDERLYING PRETAX PROFIT FELL 77 PERCENT TO 124 MILLION STG.FY LOSS AFTER TAX -141 MILLION STG VERSUS -179 MILLION STG LOSS YEAR AGO.FY BALANCE SHEET REFLECTS COVID-19 IMPACTS; LENDING CONTRACTION OF 0.7% TO £72.5BN AND DEPOSIT GROWTH OF 5.8% TO £67.5BN.FY MORTGAGE LENDING DECLINED 3.0% TO £58.3BN WITH DISCIPLINED PRICING IN H1 AND UK LOCKDOWN MARKET IMPACTS IN H2.FY NIM OF 1.56% WITHIN GUIDANCE.FY UNDERLYING PRE-PROVISION OPERATING PROFIT OF £625M IS 10% LOWER YOY PRIMARILY DUE TO NIM COMPRESSION AND BASE RATE CUTS.FY CREDIT IMPAIRMENT CHARGE OF £501M.FY UNDERLYING PROFIT BEFORE TAX OF £124M IS DOWN 77% YOY PRIMARILY DUE TO SIGNIFICANT IMPAIRMENT CHARGE RECOGNISED.FY BUSINESS LENDING GROWTH OF 13.6% TO £8.9BN DUE TO £1.2BN OF GOVERNMENT-BACKED LENDING.FY PERSONAL LENDING GROWTH OF 3.9% TO £5.2BN WITH STRONG H1 GROWTH TEMPERED BY LOWER DEMAND IN H2.FY NIM OF 1.56% WITHIN GUIDANCE; Q4 NIM OF 1.52% UP VERSUS. Q3 OF 1.47% REFLECTING DEPOSIT REPRICING ACTIONS.SEES FY NIM BROADLY FLAT ON FY20 LEVELS AND NON-INTEREST INCOME TO REMAIN SUBDUED.SEES FY UNDERLYING OPERATING COSTS OF <£875M INCLUSIVE OF C.£10-15M OF COVID COSTS.

Virgin Money UK Appoints Clifford Abrahams As Group CFO

Nov 17 (Reuters) - Virgin Money UK Plc <VMUK.L>::VIRGIN MONEY UK PLC CLYDESDALE BANK PLC - APPOINTMENT OF PERMANENT CFO.VIRGIN MONEY UK PLC - HAS APPOINTED CLIFFORD ABRAHAMS AS EXECUTIVE DIRECTOR AND GROUP CHIEF FINANCIAL OFFICER.VIRGIN MONEY UK PLC - VIRGIN MONEY UK APPOINTS CLIFFORD ABRAHAMS AS GROUP CHIEF FINANCIAL OFFICER.VIRGIN MONEY UK PLC- EXPECTED THAT CLIFFORD WILL JOIN GROUP IN MARCH 2021.

Virgin Money UK Appoints Enda Johnson As Interim CFO

Sept 28 (Reuters) - Virgin Money UK PLC <VMUK.L>::VIRGIN MONEY UK PLC CLYDESDALE BANK PLC - APPOINTMENT OF INTERIM CFO.VIRGIN MONEY UK PLC - VIRGIN MONEY UK APPOINTS ENDA JOHNSON AS INTERIM GROUP CHIEF FINANCIAL OFFICER.VIRGIN MONEY UK PLC - COMPANY IS CONTINUING ITS SEARCH FOR A PERMANENT CFO AND WILL UPDATE MARKET ON ITS PROGRESS AS APPROPRIATE.VIRGIN MONEY UK PLC - ENDA WILL SUCCEED IAN SMITH.

Virgin Money Continues To Expect FY20 NIM Of 155-160bps

July 28 (Reuters) - Virgin Money UK Plc <VMUK.L>::VIRGIN MONEY - CONFIRMS THAT TRADING IN NINE MONTHS TO 30 JUNE 2020 WAS IN LINE WITH BOARD'S EXPECTATIONS.NIM DECLINED TO 157BPS (9 MONTHS ANNUALISED) WITH A Q3 NIM OF 147BPS (Q2: 163BPS).GROUP HAS NOT YET SEEN ANY SIGNIFICANT SPECIFIC PROVISIONS OR CREDIT LOSSES IN RELATION TO PANDEMIC.VIRGIN MONEY - GROUP CONTINUES TO EXPECT A FY20 NIM OF 155-160BPS.GROUP EXPECTS NO SIGNIFICANT ADVERSE IMPACT ON NII IN FY21 AND BEYOND COMPARED TO 5-YEAR ROLLING APPROACH.VIRGIN MONEY - AFTER INITIALLY PAUSING MAJORITY OF PPI PROCESSING ACTIVITY TO FOCUS ON COVID-RELATED CUSTOMER SUPPORT, GROUP HAS RE-STARTED OPERATION.GROUP HAS 68K PPI COMPLAINTS LEFT TO ASSESS AND EXPECTS TO COMPLETE PROGRAMME WITHIN ITS CURRENT PROVISION LEVELS..VIRGIN MONEY CAPITAL POSITION REMAINS RESILIENT WITH A CET1 RATIO OF 13.3%.TOTAL BALANCE SHEET CREDIT PROVISIONS OF £584M (H1: £542M); COVERAGE RATIO OF 79BPS (H1: 75BPS).PRA CONFIRMED IN JULY THAT VMUK'S PILLAR 2A CET1 REQUIREMENT REDUCED FROM 2.9% TO 2.4%.

Virgin Money UK Takes 232 Mln STG Impairment Charge In H1

May 6 (Reuters) - Virgin Money UK PLC <VMUK.L>::VIRGIN MONEY UK PLC - INCREASED IMPAIRMENT CHARGE OF £232M AGAINST FUTURE LOAN LOSSES AND A REDUCTION IN UNDERLYING PROFITABILITY.VIRGIN MONEY UK PLC - COVID-19 IMPAIRMENT PROVISION DIVISIONAL SPLIT OF: £110M BUSINESS, £39M PERSONAL AND £15M MORTGAGES.VIRGIN MONEY UK PLC - COVID-19 DRIVING AN INCREASED IMPAIRMENT CHARGE OF £232M AGAINST FUTURE LOAN LOSSES AND A REDUCTION IN UNDERLYING PROFITABILITY.VIRGIN MONEY UK PLC - COVID-19 BALANCE SHEET IMPAIRMENT PROVISION OF £164M.VIRGIN MONEY UK PLC - HY CET1 RATIO OF 13.0% REDUCED 0.3%PTS PRIMARILY DUE TO HIGHER RWAS FROM A PLANNED MORTGAGE MODEL CHANGE.VIRGIN MONEY UK PLC - SEES FY20 NIM OF 155-160BPS AND COSTS OF <£920M REFLECTING LOWER INTEREST RATE ENVIRONMENT AND COVID-19 IMPACTS.VIRGIN MONEY UK PLC - BUSINESS LENDING GROWTH OF 5.7% IN H1 TO £8.3BN AND PERSONAL LENDING GROWTH OF 6.2% TO £5.3BN.VIRGIN MONEY UK PLC - NO COLLEAGUES FURLOUGHED AND NO PLANS TO DO SO.VIRGIN MONEY UK PLC - PREVIOUSLY ANNOUNCED REDUNDANCIES NOW ON HOLD.VIRGIN MONEY UK PLC - HY UNDERLYING PROFIT OF £120M (H119: £286M) IS DOWN 58% YOY PRIMARILY DUE TO COVID-19 IMPAIRMENT CHARGE.VIRGIN MONEY UK PLC - OUTLOOK REMAINS VERY UNCERTAIN.VIRGIN MONEY UK - OVER COMING SIX MONTHS, ANTICIPATE LIMITED CUSTOMER DEMAND FOR LENDING & INCREASE IN NUMBER OF CUSTOMERS FACING FINANCIAL CHALLENGES.VIRGIN MONEY UK PLC - HAVE DECIDED TO DELAY OUR NON-MANDATORY TRANSFORMATION PROGRAMMES, VIRGIN MONEY RE-LAUNCH AND RE-BRANDING CAMPAIGNS.

Virgin Money UK Appoints David Bennett As Chairman

May 4 (Reuters) - Virgin Money UK PLC <VMUK.L>::APPOINTMENT OF DAVID BENNETT AS CHAIRMAN.DAVID BENNETT WILL ALSO BECOME CHAIR OF CLYDESDALE BANK PLC AND VIRGIN MONEY PLC.

Quote and financial data from Refinitiv. Fund performance data provided by Lipper. All quotes delayed a minimum of 15 minutes.

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