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

VM.L on London Stock Exchange

269.10GBp
21 Feb 2018
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3.50 (+1.32%)
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Latest Key Developments (Source: Significant Developments)

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

Virgin Money Q1 gross mortgage lending 2 bln stg
Tuesday, 25 Apr 2017 02:00am EDT 

April 25 (Reuters) - Virgin Money Holdings (UK) Plc ::Q1 gross mortgage lending 2 billion stg versus 2.1 billion stg year ago.UK economy has remained stronger than expected following referendum result..Q1 net mortgage lending 0.9 billion stg versus 1.1 billion stg year ago.Continue to lend to our prime books of mortgage and credit card customers who are showing no signs of strain in current environment.Mortgage competition remains strong in certain segments.Cards competition has increased and have not followed competitors into top of table pricing.As at 31 March 2017, credit cards balances of 2.7 billion stg with stable customer behaviour and arrears levels.Prioritise asset quality over balance growth, remain confident of achieving £3 billion of prime credit card balances by end of 2017.Remains well placed and confident of delivering against guidance for full year 2017 which is reaffirmed today.  Full Article

Virgin Money says full-year underlying pretex profit up 33 pct
Tuesday, 28 Feb 2017 02:25am EST 

Virgin Money Holdings (Uk) Plc : Final results . Underlying profit before tax increased by 33 per cent to £213.3 million, from £160.7 million in 2015 . Customer loan balances increased by 19 per cent against continued strict underwriting principles . Customer base increased by 15 per cent to 3.3 million at rate of over 35,000 customers per month, driven predominantly through digital channels . Fy mortgage balances increased by 17 per cent to £29.7 billion. . Fy credit card balances increased to £2.4 billion, up 55 per cent, a 3.5 per cent market share. . Fy retail deposit balances increased by 12 per cent to £28.1 billion. . Fy credit cards cost of risk improved to 1.70 per cent in 2016, from 2.00 per cent in 2015, reflecting continued high quality of book. . Strong capital position, with a common equity tier 1 ratio of 15.2 per cent at 31 december 2016. . Remain well-placed to maintain a solid double-digit return on tangible equity, somewhat ahead of 12.4 per cent rote achieved in 2016. . As a uk retail bank focused on serving domestic customers, decision to exit eu does not directly impact on our business . While housing market activity slowed slightly following eu referendum, demand returned strongly to market in second half of year . There was an increase in remortgage activity following reduction in bank base rate in august. . Average loan-to-value (ltv) of mortgage book was 55.4 per cent, flat year-on-year.  Full Article

Debt collection firm Arrow Global appoints former Virgin Money CFO as CEO
Wednesday, 7 Dec 2016 02:00am EST 

Arrow Global Group Plc : Appointment of chief executive officer . Tom Drury has decided to step down as group CEO .Lee Rochford, formerly CFO of Virgin Money will replace Tom as group CEO and board director from 3 January 2017..  Full Article

WL Ross & Co to sell up to 27 mln Virgin Money shares-bookrunner
Wednesday, 16 Nov 2016 11:47am EST 

Bookrunner : Funds managed by WL Ross & Co. LLC announce intention to sell up to 27 mln shares in Virgin Money Holdings Plc -Bookrunner . Placing shares represent approximately 6.1 pct of the company’s issued share capital - Bookrunner . Placing shares are being offered by way of an accelerated bookbuild - Bookrunner Further company coverage: [VM.L] (Bengaluru Newsroom: +91 806 749 1136).  Full Article

Virgin Money stalls SME lending plans after Brexit vote
Tuesday, 26 Jul 2016 05:04am EDT 

Virgin Money CEO: Virgin Money to think "much harder" about further recruitment, probably slowdown new hires to manage costs in uncertain times after Brexit .Decides not to immediately enter SME lending after Brexit vote, refocuses on investment into its digital banking business.  Full Article

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Virgin Money creates rare female top team with new hire

Virgin Money on Thursday appointed former HSBC executive Irene Dorner as chairwoman, creating a rare female duo at the top of one of Britain's FTSE 350 listed companies.