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About us

Our business model

Our ambition to make 'everyone better off' is at the heart of our business model. By leveraging our strategic assets and capabilities we aim to deliver good value to our customers, treat colleagues well, build positive and mutually beneficial relationships with our corporate partners, make a positive contribution to society and deliver solid double-digit returns for shareholders.

Company, Customers, Colleagues, Corporate Partners and Community:

  • Our powerful brand and EBO ethos differentiate us strongly in the market. We are well positioned to continue disrupting the market and compete effectively with the major incumbent banks.
  • Our experienced management team and highly-engaged colleagues underpin our differentiated approach to banking.
  • We continue to protect our unique position as a low risk UK retail bank, unburdened by legacy conduct issues. As a result, we aim to offer good value, straightforward and transparent products, supported by prudent underwriting and outstanding customer service.
  • Our customers want to be able to access our products when, where and how they like and our focus on constantly improving our digital journeys across all platforms reflects this.
  • We continue to protect our high-quality balance sheet. The application of strict underwriting and our data driven approach to risk management supports controlled and high-quality asset growth. We are unburdened by legacy conduct issues that continue to weigh down other UK banks.
  • Our size and scale is a competitive advantage.
  • We are big enough to compete strongly and take our planned share in our core markets and more agile than the major banks. Our strategic commercial approach and agility allows us to optimise business volume and mix and selectively target growth opportunities in specific value accretive market segments, according to customer needs and prevailing economic and market conditions.
  • We benefit from ongoing operational leverage. Strong cost discipline, operational efficiency and leverage minimises cost growth. Maximising operational leverage creates value for everyone – it flows through into pricing efficiency, shareholder returns, our capacity to invest in good causes and the sustainability of our business model.
  • Our EBO culture sustains a virtuous circle based on a commitment to the communities in which we work and raises awareness of the Virgin Money brand and business as a force for good.

Core strengths of our operating model

Making everyone better off