Nationwide banks £2.3bn gain from Virgin Money takeover as profit tumbles Banking Nationwide has bagged a £2.3bn gain from its acquisition of Virgin Money, setting up a windfall for members of Britain’s biggest building society.
Nationwide completes Virgin Money takeover to create high street banking titan Banking Nationwide has completed its £2.9bn takeover of Virgin Money in the UK's biggest banking merger since the financial crisis amid increasing consolidation among mid-sized lenders.
Bank of England mulls ‘further steps’ to boost City’s global competitiveness Banking The UK's banking regulator is mulling "further steps" to boost the City's international competitiveness as one of its top brass hailed a "broadly welcoming" response to its softening of bank capital rules.
Principality Building Society’s profit nearly halves as lower rates offset mortgage boost August 6, 2024 Principality Building Society, the largest mutual lender in Wales, has seen its profit nearly cut in half as mortgage price wars and looming interest rate cuts dragged on its lending margins.
Yorkshire Building Society sees profit fall as rate tailwind eases July 25, 2024 Profit fell at Yorkshire Building Society as margins in the mortgage market were compressed by the plateau in interest rates. In the first six months of the year, the building society’s pretax profit fell to £158.1m from £180.6m in the same period last year. The fall in profit was largely due to lower net interest [...]
Nationwide called out over ‘sneaky’ tactics in £2.9bn Virgin Money deal May 6, 2024 A senior figure in the House of Lords has accused Nationwide of using "sneaky" tactics in its £2.9bn bid to buy Virgin Money.