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Nationwide to cut 600 jobs after takeover of Virgin Money

Nationwide is cutting about 600 roles affecting both Nationwide and Virgin Money staff as duplicate back-office positions are removed following the £2.9bn takeover. The lender has opened a consultation with unions and says customer-facing branch roles are not the main focus, while recruiting roughly 270 vacancies that are not reserved for those at risk. The announcement follows earlier rounds of redundancies and comes amid integration plans after the controversial acquisition. » More on theguardian.com
Nationwide completes takeover of Virgin Money and announces leadership changes

Nationwide has completed the transfer of the Clydesdale Bank (Virgin Money) banking business with effect from 2 April 2026; certain products and contracts are excluded. Chris Rhodes, CEO of Virgin Money, will step down as an executive director on 21 May 2026 and will leave the company entirely in September 2026. Alan Keir will resign as chair of the Board Risk Committee after the annual general meeting on 16 July 2026; Phil Rivett is expected to replace him subject to regulatory approval, and Guy Bainbridge will then take over as chair of the audit committee. » More on de.investing.com
Clydesdale Bank approved transfer of business to Nationwide

The High Court has approved a plan to transfer the entirety of Clydesdale Bank’s banking business to Nationwide, excluding certain specified products and contracts. The legally effective transfer is scheduled for 2 April 2026 at 23:59. Rebranding and IT migration will begin in 2026; the complete systems migration is expected to be finished over the following two to three years. » More on de.investing.com

Historical dividends Dividends

All dividend metrics All metrics

In 2024, Virgin Money UK has already paid €0.0471 in dividends. The last payout was in July 2024.

Financials

In the last year, Virgin Money UK had revenue of €1.75B and net profit of €221.21M

(EUR)	2023	YoY
Revenue	1.75B	7.58%
Gross profit	1.75B	7.58%
Net profit	221.21M	58.35%
EBITDA	0	-

Fundamentals

Metric	Value
Market capitalization	€3.05B
Number of shares	1.61B
52-week high/low	€2.07 - €1.69
Dividends	No
Beta	1.89
P/E ratio	15.54
PEG ratio	0.16
P/B ratio	0.60
P/S ratio	0.70

Company profile

Virgin Money UK PLC bietet unter den Marken Clydesdale Bank, Yorkshire Bank und Virgin Money im Vereinigten Königreich Bankprodukte und -dienstleistungen für Verbraucher sowie kleine und mittlere Unternehmen an. Das Unternehmen bietet Spar- und Girokonten, Hypotheken, Kreditkarten und Wohnungsbaudarlehen, Geschäftskredite, Überziehungskredite, Treasury-Lösungen sowie Unternehmens- und strukturierte Finanzierungen, Vermögensfinanzierung und Vermögensvermittlung, Risikomanagement, internationale Handelsdienstleistungen, Währungsdienstleistungen, Altersvorsorge, Investitionen und Schutzprodukte sowie Haus-, Auto-, Reise- und Lebensversicherungen und Versicherungen für schwere Krankheiten. Das Unternehmen bietet auch Online- und Mobile-Banking sowie Telefon-Banking an. Das Unternehmen war früher unter dem Namen CYBG PLC bekannt und änderte im Oktober 2019 seinen Namen in Virgin Money UK PLC. Virgin Money UK PLC wurde 1838 gegründet und hat seinen Hauptsitz in Glasgow, Vereinigtes Königreich.