Why are Northern Rock and Virgin Money coming together?
Virgin has a history of entering markets to improve things for customers and we want to do the same for banking.
We’ve made no secret of our ambition to build a different kind of bank in the UK, one that makes everyone better off – our customers, staff, shareholders, partners and the communities we serve.
Northern Rock and Virgin Money complement each other well. Combining the two creates a strong business with over 4 million customers that is capable of creating a real alternative to the existing high street banks.
The new Virgin Money business offers savings, mortgages, credit cards, investments, pensions and all kinds of insurance. We plan to add current accounts in 2013 and also business banking after that.
It will take time for us to build the bank we want – but bringing together Northern Rock and Virgin Money now provides the perfect starting point.