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Virgin Money Holdings (UK) PLC (VM.L)

VM.L on London Stock Exchange

384.00GBp
11:35am EDT
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Latest Key Developments (Source: Significant Developments)

Britain's Virgin Money Sees FY Banking Net Interest Margin Of Around 162 Basis Points
Thursday, 26 Jul 2018 02:02am EDT 

July 26 (Reuters) - Virgin Money Holdings (UK) PLC ::H1 UNDERLYING PROFIT BEFORE TAX INCREASED BY 10 PER CENT TO £141.6.H1 RETURN ON TANGIBLE EQUITY OF 14.2 PER CENT.H1 BANKING NET INTEREST MARGIN OF 164 BASIS POINTS.SME SAVINGS FRANCHISE ON TRACK TO DELIVER £500 MILLION OF NEW DEPOSITS BY END OF 2018.SAYS H1 COMMON EQUITY TIER 1 RATIO OF 16.3 PERCENT AND LEVERAGE RATIO OF 3.8 PERCENT.H1 STATUTORY PROFIT BEFORE TAX INCREASED TO £127.2 MILLION, COMPARED TO £123.8 MILLION IN H1 2017.SAYS INTERIM DIVIDEND OF 2.3 PENCE PER ORDINARY SHARE.VIRGIN MONEY- STRENGTH OF UK LABOUR MARKET, WAGE GROWTH AND ONGOING LOW MORTGAGE RATES CONTINUED TO UNDERPIN MORTGAGE APPROVALS AND UK HOUSING MARKET.VIRGIN MONEY - BANK BASE RATE IS EXPECTED TO RISE OVER COMING YEARS BUT INCREASES ARE EXPECTED TO BE AT A GRADUAL PACE AND TO A LIMITED EXTENT.VIRGIN MONEY - CONTINUE TO DELIVER ON OUR 2018 GUIDANCE AND NOW ANTICIPATE A BANKING NET INTEREST MARGIN FOR FULL YEAR 2018 OF AROUND 162 BASIS POINTS.ALL OTHER GUIDANCE FOR 2018 REMAINS UNCHANGED.SAYS EXPECT TO DELIVER CONTINUED STRONG PERFORMANCE FOR FULL YEAR INCLUDING A CET1 RATIO OF AROUND 15.5 PERCENT.SAYS SME SAVINGS FRANCHISE ON TRACK TO DELIVER 500 MILLION STG OF NEW SME DEPOSITS BY END OF 2018.  Full Article

CYBG Confirms Making Preliminary Approach Regarding Potential All Share Combination Of Co, Virgin Money
Monday, 7 May 2018 05:28pm EDT 

May 7 (Reuters) - Cybg Plc ::SAYS IT CONFIRMS IT MADE PRELIMINARY APPROACH REGARDING A POTENTIAL ALL SHARE COMBINATION OF CO AND VIRGIN MONEY.SAYS UNDER TERMS OF ITS PROPOSAL VIRGIN MONEY SHAREHOLDERS WOULD OWN ABOUT 36.5 PERCENT OF THE COMBINED GROUP.  Full Article

Virgin Money and Aberdeen Standard Investments Establish Asset Management Services JV
Tuesday, 20 Mar 2018 04:57am EDT 

March 20 (Reuters) - Virgin Money Holdings (Uk) Plc ::VIRGIN MONEY/ ABERDEEN STANDARD INVESTMENTS NEW JV.VIRGIN MONEY - ‍VIRGIN MONEY AND ABERDEEN STANDARD INVESTMENTS TO ESTABLISH A NEW JOINT VENTURE FOR PROVISION OF ASSET MANAGEMENT SERVICES TO CUSTOMERS​.VIRGIN MONEY HOLDINGS (UK) PLC - ‍AS PART OF JOINT VENTURE, ASI WILL PROVIDE FUND MANAGEMENT SERVICES AND ACCESS TO ITS DIGITAL TECHNOLOGY.​.VIRGIN MONEY - ‍ANTICIPATED ASI WILL ACQUIRE 50 PERCENT OF VIRGIN MONEY UNIT TRUST MANAGERS WITH TRANSACTION EXPECTED TO COMPLETE BY END OF 2018​.VIRGIN MONEY - ‍ASI IS EXPECTED TO ACQUIRE 50 PER CENT OF VIRGIN MONEY UNIT TRUST MANAGERS LIMITED FOR AN UPFRONT CASH PAYMENT IN EXCESS OF £40 MILLION ​.VIRGIN MONEY - ‍WITH CLOSING OF TRANSACTION EXPECTED BY END OF 2018, THERE IS EXPECTED TO BE NO MATERIAL IMPACT ON 2018 UNDERLYING EARNINGS​.  Full Article

Virgin Money Discloses 2017 Gender Pay Gap Of 32.5 Percent
Tuesday, 27 Feb 2018 03:00am EST 

Feb 27 (Reuters) - Virgin Money ::DISCLOSES MEAN GENDER PAY GAP OF 32.5 PERCENT FOR 2017, SAYS GAP CAUSED BY UNDER-REPRESENTATION OF WOMEN IN SENIOR ROLES.  Full Article

Virgin Money Holdings Full-Year Profit Rises
Tuesday, 27 Feb 2018 02:02am EST 

Feb 27 (Reuters) - Virgin Money Holdings (UK) Plc ::FY ‍UNDERLYING PROFIT BEFORE TAX INCREASED BY 28 PER CENT TO £273.3 MILLION​.WE EXPECT TO MAINTAIN SOLID DOUBLE-DIGIT RETURNS IN 2018.FY ‍COMMON EQUITY TIER 1 RATIO OF 13.8 PER CENT​.WE EXPECT TO MAINTAIN SOLID DOUBLE-DIGIT RETURNS AND A PROGRESSIVE DIVIDEND IN 2018.FY ‍CREDIT CARD BALANCES INCREASED TO £3.0 BILLION, FROM £2.4 BILLION IN 2016​.WE EXPECT TO GROW MORTGAGE BALANCES AT A SINGLE DIGIT PERCENTAGE RATE DURING 2018.WE ANTICIPATE A BANKING NIM IN RANGE OF 165-170 BASIS POINTS FOR 2018.WE WILL MAINTAIN A CET1 RATIO OF AROUND 13 PER CENT IN 2018.‍EXPECT TO MAINTAIN DOUBLE-DIGIT RETURNS AND A PROGRESSIVE DIVIDEND IN 2018​.‍GROWTH IN CREDIT CARD BALANCES WILL BE IN SINGLE DIGITS FOR YEAR​.‍EXPECT TO MAINTAIN A DOUBLE-DIGIT RETURN ON TANGIBLE EQUITY IN 2018​.‍14 PER CENT INCREASE IN TOTAL CUSTOMER LOAN BALANCES FOR FY.  Full Article

Virgin Money Appoints Geeta Gopalan As Chair Of Board Risk Committee
Monday, 8 Jan 2018 10:00am EST 

Jan 8 (Reuters) - Virgin Money Holdings (Uk) Plc ::VIRGIN MONEY HOLDINGS (UK) PLC - GEETA GOPALAN, ONE OF COMPANY'S INDEPENDENT NON-EXECUTIVE DIRECTORS, HAS BECOME CHAIR OF BOARD RISK COMMITTEE.VIRGIN MONEY HOLDINGS (UK) PLC - GEETA SUCCEEDS COLIN KEOGH AS CHAIR OF COMMITTEE.  Full Article

Virgin Money says in advanced discussions to appoint of Irene Dorner as chair elect
Wednesday, 25 Oct 2017 02:00am EDT 

Oct 25 (Reuters) - Virgin Money Holdings (Uk) Plc :DIRECTORATE CHANGE.‍CONFIRMS THAT COMPANY IS IN ADVANCED DISCUSSIONS WITH RESPECT TO APPOINTMENT OF IRENE DORNER AS CHAIR ELECT.‍ANY APPOINTMENT WOULD BE SUBJECT TO REGULATORY APPROVAL​.  Full Article

Virgin Money says ‍gross mortgage lending was 6.5 bln stg to end of Q3
Tuesday, 17 Oct 2017 02:00am EDT 

Oct 17 (Reuters) - Virgin Money Holdings (Uk) Plc ::‍GROSS MORTGAGE LENDING OF £6.5 BILLION TO END OF Q3, A MARKET SHARE OF 3.5 PER CENT​.‍FULL YEAR GUIDANCE REAFFIRMED​.‍FY 2017 CET1 RATIO EXPECTED TO BE AROUND 13.5 PER CENT​.‍Q3 BANKING NIM 2 CONSISTENT WITH FY 2017 GUIDANCE​."EXPERIENCING ROBUST CUSTOMER DEMAND WITH STABLE CUSTOMER BEHAVIOUR"​.  Full Article

Virgin Money says H1 pretax profit up 26 pct
Tuesday, 25 Jul 2017 02:00am EDT 

July 25 (Reuters) - VIRGIN MONEY HOLDINGS (UK) PLC ::2017 HALF-YEAR RESULTS.H1 UNDERLYING PROFIT BEFORE TAX UP 26 PER CENT TO 128.6 MILLION STG AND RETURN ON TANGIBLE EQUITY INCREASED TO 13.3 PER CENT.H1 STATUTORY PROFIT BEFORE TAX WAS 123.8 MILLION POUNDS VERSUS 93.7 MILLION POUNDS IN H1 2016.H1 UNDERLYING NET INTEREST MARGIN OF 1.59 PER CENT.H1 UNDERLYING NET INTEREST MARGIN OF 1.59 PER CENT.H1 UNDERLYING RETURN ON TANGIBLE EQUITY 13.3 PERCENT VERSUS 12.2 PERCENT IN H1 2016.VIRGIN MONEY HOLDINGS (UK) PLC - H1 GROSS MORTGAGE LENDING OF 4.3 BILLION POUNDS AND NET LENDING OF 2.1 BILLION POUNDS.H1 COST TO INCOME RATIO 53.9 PERCENT VERSUS 58.8 PER CENT IN H1 2016.H1 COMMON EQUITY TIER 1 RATIO OF 13.8 PER CENT AND LEVERAGE RATIO OF 3.9 PER CENT.VIRGIN MONEY HOLDINGS (UK) PLC - CREDIT CARD BALANCES INCREASED TO 2.8 BILLION POUNDS IN THE PERIOD, 13 PER CENT HIGHER THAN FY 2016.REMAIN ON TRACK TO SUSTAIN A SOLID DOUBLE-DIGIT RETURN ON TANGIBLE EQUITY (ROTE) IN 2017.VIRGIN MONEY HOLDINGS (UK) PLC - GROSS MORTGAGE MARKET SHARE OF 3.5 PER CENT AT THE END OF MAY 2017.ALTHOUGH UK ECONOMY HAS REMAINED RESILIENT DURING FIRST HALF OF YEAR, ECONOMIC UNCERTAINTY REMAINS.VIRGIN MONEY HOLDINGS (UK) PLC - INTERIM DIVIDEND OF ‍1.9​ PENCE PER SHARE, COMPARED TO 1.6 PENCE PER SHARE IN H1 2016.DOES NOT LEND IN UNSECURED PERSONAL LOAN OR MOTOR FINANCE MARKETS.VIRGIN MONEY - ANNOUNCE A NEW STRATEGIC PARTNERSHIP UNDER WHICH VIRGIN MONEY WILL BECOME VIRGIN ATLANTIC'S RETAIL FINANCIAL SERVICES PARTNER IN UK.  Full Article

Virgin Money says does not lend to unsecured personal loan markets​
Tuesday, 4 Jul 2017 10:45am EDT 

July 4 (Reuters) - Virgin Money ::‍Notes Prudential Regulation Authority's statement on consumer credit​.‍Has a high quality credit card book and does not lend in unsecured personal loan or motor finance markets​.Has robust governance, tightly controlled risk appetite for prime credit card lending, more demanding affordability requirements than market."Our models and assumptions are regularly reviewed and externally validated as part of our ongoing governance and control framework"​.‍"Have always focused on prime segment of card market and have a stringent policy of no down-selling" - CEO​.  Full Article

PRESS DIGEST- British Business - Sept 11

Sept 11 The following are the top stories on the business pages of British newspapers. Reuters has not verified these stories and does not vouch for their accuracy.