Virgin Money cautiously lays out plans for £2bn listing this week September 29, 2014 VIRGIN Money is planning to announce its initial public offering (IPO) this week, City A.M. understands. But the challenger bank remains cautious in case market conditions change rapidly in the face of ongoing turmoil in the Middle East. Virgin Money will join new lender Aldermore in the rush of financial firms listing on the stock [...]
Virgin Money edges closer to IPO after 356pc increase in underlying profit September 12, 2014 Virgin Money has reported a 356 per cent increase in underlying profit before tax to £59.7m in a half-year trading update released this morning. The company also confirmed that Glen Moreno would take over as chairman of the company from mid-2015. IPO talk Profit before tax was down by 97 per cent, [...]
Virgin Money’s profits jump on mortgage loans March 4, 2014 BOOMING mortgage lending drove up profits in 2013 at challenger bank Virgin Money, the lender said yesterday. The bank, which was built out of the remains of Northern Rock, made a pre-tax profit of £179.4m in 2013, up 23.5 per cent on the year. Mortgage balances jumped 17 per cent on the year to £19.6bn, [...]