|Bid||0.00 x 55200|
|Ask||0.00 x 26500|
|Day's range||258.70 - 265.80|
|52-week range||256.20 - 336.50|
|PE ratio (TTM)||7.06|
|Earnings date||24 Jul 2017 - 28 Jul 2017|
|Forward dividend & yield||N/A (N/A)|
|1y target est||322.78|
** Virgin Money down 3 pct after Jefferies downgrades to "hold" and cuts 19-21 PBT estimates by 13 pct ** CYBG: Brokerage sees 8 pct pullback a buying oppurtunity, upgrades stock to "buy" ...
Virgin Money's shares were up 5.6 percent at 279 pence at 1124 GMT, making it one of the biggest gainers on the FTSE Midcap Index (.FTMC). Virgin's share of the British mortgage market, now at around 3.3 percent, is still very small and highlights the difficulties faced by the country's banking newcomers in challenging the established heavyweights - Barclays (BARC.L), HSBC (HSBA.L), Lloyds Banking Group (LLOY.L), Santander UK (SAN.MC) and Royal Bank of Scotland (RBS.L).
Virgin Money had said in October it was in talks to hire Dorner, who will join Jayne-Anne Gadhia who is the first female CEO of a listed British bank. Dorner joins Virgin Money's board as chair elect and takes over from outgoing Chairman Glen Moreno on March 31.
Virgin Money formed a rare female chair and chief executive team among Britain's top 350 listed companies by hiring former HSBC executive Irene Dorner as chairwoman. Dorner joins Virgin Money's board as ...
Barclays (LSE: BARC.L - news) is likely to follow other major lenders in the United States in stopping customers from buying Bitcoin and other cryptocurrencies with its credit cards, according to an interview with a senior executive at its credit card unit. "We are making the decision that we will likely no allow cryptocurrency purchases on the card," Paul Wilmore, managing director at Barclaycard, told Bank Innovation blog. A spokeswoman for Barclays in London said that the bank is reviewing its policy on a country-by-country basis and that it had not yet changed its policy.
Lloyds Banking Group banned customers from using their credit cards to buy cryptocurrencies amidst fears about Bitcoin. So did Virgin Money, but it's not clear what other European banks will do.
Banks in Britain and the United States have banned the use of credit cards to buy Bitcoin and other "cryptocurrencies", fearing a plunge in their value will leave customers unable to repay their debts. Lloyds Banking Group Plc (LLOY.L), which issues just over a quarter of all credit cards in Britain, and Virgin Money (VM.L) said they would ban credit card customers from buying cryptocurrencies, following the lead of U.S. banking giants JP Morgan Chase & Co (JPM.N) and Citigroup (C.N). The move is aimed at protecting customers from running up huge debts from buying virtual currencies on credit, if their values were to plummet, a Lloyds spokeswoman said.
LONDON (Reuters) - Britain's Virgin Money has banned purchases of cryptocurrencies on its credit cards, a spokesman said on Monday, after similar moves by Lloyds Banking Group and several U.S. investment ...
Britain's Virgin Money has banned purchases of cryptocurrencies on its credit cards, a spokesman said on Monday, after similar moves by Lloyds Banking Group and several U.S. investment banks. "Following ...
Britain's banks are booking future credit card income long before it materialises, prompting concerns about the accounting practice among regulators, investors and analysts. Riskier products such as credit cards have become more popular among banks in search of higher returns in recent years. Britain's Prudential Regulation Authority warned that if banks are wrong about how customers will behave it could hit their capital.
British app-based bank Monzo and others like it want to make money by allowing other firms access to their customers rather than lending to them, but this is an untested path to profitability. Monzo's user numbers soared by 300 percent to 450,000 in nine months this year, which has attracted investors and more than doubled its valuation to $336 million. "The more you grow, the more you lose and you have to turn that corner at some point," CEO Tom Blomfield told Reuters, referring to the moment when each customer is no longer a loss to the bank.
Britain's smaller banks are lining up to apply for multi-million pound grants the government hopes will help them compete in the corporate banking market. For years the government has wanted to reduce the dominance of big banks in the small-to medium-sized business (SME) banking sector.
Rahmani has previously been a non-executive director of Aberdeen Asset Management and is currently a non-executive director of RenaissanceRe Holdings Ltd and Computer Task Group Inc. Rahmani has held various positions at IBM, and LSE said in a statement her "considerable technology knowledge and expertise" was a significant benefit.
Britain's Nationwide Building Society reported a 4 percent fall in half-year profit on Friday, a second consecutive period of decline that it attributed to low interest rates and tough competition in the mortgage market. The lender reported an underlying profit of 588 million pounds ($778 million) for the six months to September 30, down from 615 million a year earlier.
Virgin Money (VM.L) shares fell 5 percent on Thursday as the bank said its share of the mortgage market would be at the low end of its previously predicted range and that its net interest margin would also shrink. One of the largest of a new breed of 'challenger' banks that launched in Britain after the 2008 financial crisis, Virgin Money has walked a difficult line between pushing for loan growth and maintaining profitability. The lender said its net interest margin, a key profitability metric that measures the gap between what it pays depositors and charges borrowers, would shrink to between 1.65 and 1.7 percent in 2018 due to lower rates on new mortgages.
Virgin Money shares fell 5 percent on Thursday as the bank said its share of the mortgage market would be at the low end of its previously predicted range and that its net interest margin would also shrink. One of the largest of a new breed of 'challenger' banks that launched in Britain after the 2008 financial crisis, Virgin Money has walked a difficult line between pushing for loan growth and maintaining profitability. The lender said its net interest margin, a key profitability metric that measures the gap between what it pays depositors and charges borrowers, would shrink to between 1.65 and 1.7 percent in 2018 due to lower rates on new mortgages.
Britain's top four lenders all have male chief executives and chairmen and Virgin Money's announcement on Wednesday comes after its chief executive Jayne-Anne Gadhia highlighted "pervading sexism" in the financial services industry. Gadhia told MPs on Tuesday of examples of inappropriate behaviour by men that she was aware of during her career, and said that while things were improving, women continue to face numerous barriers to progress in the industry.
Virgin Money is it advanced talks to appoint former HSBC executive Irene Dorner as its non-executive director and chairwoman elect, it said on Wednesday, confirming recent speculation in the media. Any ...
** Virgin Money +3.6 pct, top FTSE Midcap gainer ** Reports steady mortgage lending in first 9 months and points to robust customer demand due to low unemployment and a resilient housing market ** Virgin ...