Virgin confirms interest in Lloyds and RBS branches

clock

Virgin Money chairman Brian Pitman has confirmed rumours the bank is interested in buying Lloyds and Royal Bank of Scotland branches.

Pitman, the former chairman and chief executive officer of Lloyds TSB, says the bank would be interested if the branches were in good locations. In an interview with Sky News, he says it would be quicker for the bank to buy branches of existing banks. Virgin would also try to buy Northern Rock's branch network when it goes up for sale if the price was right, he adds. However, he believes the Government will not sell Northern Rock until the second half of the year because it wants to show the good bank part is stable.  

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Your profession

Investors split over Trump presidency win amid potential increase in inflationary risks

Investors split over Trump presidency win amid potential increase in inflationary risks

US government bonds at risk

Sorin-Andrei Dojan
clock 06 November 2024 • 4 min read
Donald Trump wins US presidential election

Donald Trump wins US presidential election

47th US president

Sorin-Andrei Dojan
clock 06 November 2024 • 2 min read
Celebrating female talent in finance: Tips for success in the Women in Financial Advice Awards

Celebrating female talent in finance: Tips for success in the Women in Financial Advice Awards

'The outstanding entries for WIFA 2024 made judging a challenging task'

Gillian Hepburn
clock 06 November 2024 • 3 min read