Clydesdale Bank

CMA stops Clydesdale Bank 'bundling' business accounts with Bounce Back Loans

The Competition and Markets Authority (CMA) has stopped Clydesdale Bank from forcing small business customers to open a business current account with it to get a COVID-19 Bounce Back Loan.

Published 8 February 2021

Virgin Money announces 'profitable and positive' first quarter

Clydesdale Bank owner Virgin Money has announced a "profitable and positive" first quarter of the year. 

Published 3 February 2021

Virgin Money signs up fintech Codat to bolster business bank proposition

Virgin Money, owner of Glasgow-based Clydesdale Bank, has added fintech Codat to its growing team of technology partners as it strengthens its digital business banking credentials.

Published 1 February 2021

Clydesdale Bank accepts variable income for mortgages

Clydesdale Bank, which is owned by Virgin Money, has announced that it will now accept variable income such as bonus, commission and overtime in its mortgage affordability assessment.

Published 5 January 2021

Clydesdale Bank lawsuit to be heard in English High Court

A legal action by more than 100 Scottish businesses against Clydesdale Bank over loans that were allegedly mis-sold will be heard in the English High Court, with Scots law applied to claims from businesses based in Scotland.

Published 21 December 2020

Virgin Money sees pre-tax profits drop by 77%

Virgin Money, owner of Glasgow-based Clydesdale Bank, has posted full-year pre-tax profits of £124 million marking a 77% decline from the £539m posted the previous year.

Published 25 November 2020

SMEs join legal action against Clydesdale and National Australia Bank over Tailored Business Loans

Over 500 SMEs have joined action against Clydesdale Bank and National Australia Bank (NAB) as RGL Management Limited (RGL) issues a third wave of High Court claims over the banks’ Tailored Business Loans.

Published 15 October 2020

Virgin Money launches £400,000 fund to help Glasgow community groups

Virgin Money, the owner of Clydesdale Bank, has launched a new £400,000 Community Anchors’ Fund, in partnership with the HFD Charitable Foundation to help community groups in Glasgow.

Published 4 August 2020

Armadilla Ltd emerges from lockdown with growing order book thanks to Clydesdale Bank CBILS loan

Armadilla Ltd, a family-run design and manufacturing business in Midlothian, is set to benefit from the global staycation market as it emerges from the lockdown with a growing order book for its innovative, luxury, eco-friendly accommodation pods.

Published 30 July 2020

Virgin Money resumes Clydesdale branch closures plan

Virgin Money, the owner of Clydesdale Bank, has announced that it will resume plans for branch closures in Scotland which it halted due to the coronavirus pandemic.

Published 2 July 2020

Clydesdale Bank 'Go Ape' with new CBILS funding

Go Ape, the UK outdoor adventure company and visitor attraction has secured funding from the Coronavirus Business Interruption Loan Scheme (CBILS) through Clydesdale Bank, owned by Virgin Money, to help it through the economic impact of the coronavirus crisis.

Published 12 June 2020

Rakkaus Furniture Ltd secures CBILS loan from Clydesdale Bank

Rakkaus Furniture Ltd, a Kilmarnock-based commercial furniture provider, is one of the first businesses to benefit from the Coronavirus Business Interruption Loan Scheme (CBILS) through Virgin Money-owned Clydesdale Bank.

Published 13 May 2020

Clydesdale Bank halts rebrand and closures as it prepares for losses stemming from coronavirus pandemic

David Duffy, the owner of Clydesdale Bank, has halted plans to change bank branch names to Virgin Money as it made provisions for higher losses on loans in light of the coronavirus outbreak. 

Published 7 May 2020

Clydesdale Bank branch closures postponed

Virgin Money, formerly known as Clydesdale Bank, has announced that it will not proceed with the branch closures and job cuts announced in February, as a result of the current situation with COVID-19.

Published 1 April 2020

GlenAllachie Distillers secures £30m loan from Clydesdale Bank

The GlenAllachie Distillers Co. Limited has secured a £30 million asset-based lending package from Clydesdale Bank, thanks to support from the new Scottish arm of Belfast-based finance specialists HNH.

Published 11 March 2020