- CEO
- David Joseph Duffy B.B.S., MA
- Full Time Employees
- 8,110
- Sector
- Financial Services
- Industry
- Banks - Regional
- Address
- 40 St Vincent Place Glasgow United Kingdom G1 2HL
- IPO Date
- Mar 22, 2016
- Business
- Virgin Money UK PLC (ticker: CYBBF) is a United Kingdom-based provider of retail and commercial banking products and services to consumers and small- to medium-sized businesses through its leading technology platform, telephone banking, app, online banking, and network of branches and business banking centres. The company offers current accounts including the M Account, M Plus Account, and Club M Account; credit cards with features such as approval checks, Virgin Points earning, and AI-powered virtual assistant Redi; savings accounts and Cash ISAs like Easy Access Saver, Fixed Rate Bonds, and Regular Saver Exclusive; mortgages including innovative products such as Fix and Switch five-year fixed rates, Rate Reducer for new-builds with Own New, and energy-efficient options with Hive; personal loans; investments and pensions via its fully owned Virgin Money Investments platform following the 2024 buyout of abrdn's stake; insurance products encompassing home, landlord, travel, and business cover; and business banking solutions featuring accounts, loans, asset finance, and sustainability support tools. Founded with roots tracing back over 180 years through Clydesdale Bank heritage and formally incorporated in 2015 as CYBG PLC before rebranding, Virgin Money UK PLC maintains its headquarters at Jubilee House in Gosforth, Newcastle upon Tyne, with additional offices in Glasgow, Edinburgh, Leeds, London, and elsewhere across the UK, primarily serving domestic customers.
In recent developments, Nationwide Building Society completed its £2.9 billion acquisition of Virgin Money UK PLC on 1 October 2024, establishing the combined entity as the UK's second-largest provider of mortgages and savings, with Virgin Money operating as a separate legal entity under Nationwide's ownership in the medium term and the brand set to phase out by 2030; the business will fully integrate into Nationwide by 2 April 2026 pending final approvals. The company sold its investment business to Octopus Money in August 2025 subject to FCA approval to bolster direct-to-consumer wealth growth; re-entered the home insurance market in September 2024 via partnership with Uinsure for quick-quote products; launched new offerings including the M Power youth account for 11-17 year olds in June 2024, Regular Saver Exclusive at 6.50% in May 2025, and digital wallet with Global Payments; formed strategic alliances such as with Experian in June 2024 for personalized digital experiences and Mastercard Open Banking in March 2025; and expanded sustainability lending with deals like £26 million for a Herefordshire solar farm in 2024 and green loans for developments.