Virgin Money

Over 54,000 Scottish SMEs fear closure from second UK lockdown

An estimated 35,070 Scottish SMEs say it is likely their business will close permanently in the next 12 months as a result of the coronavirus crisis, with this figure rising to 54,776 in the event that a second national lockdown is introduced, according to a recent survey by Virgin Money.

Published 29 September 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 allocates £42m for bad loans

Virgin Money, owner of Glasgow-based Clydesdale Bank, has allocated an extra £42 million to cover potential losses from an increase in bad loans as the bank braces for the economic fallout from the coronavirus crisis.

Published 29 July 2020

Virgin Money business lending increased during lockdown

During the three months of lockdown, Virgin Money, the owner of Clydesdale Bank, saw a near six per cent rise in business lending.

Published 28 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

Touch-free future a possibility for Virgin Money at new Glasgow office

The HFD Group - the developer behind 177 Bothwell Street in Glasgow - is implementing a series of health and wellbeing measures that will see the pre-let Virgin Money offices within the building reflect the new post-COVID-19 reality of working life.

Published 9 June 2020

Confidence using online banking grows during lockdown as Scottish consumers embrace digital

The coronavirus lockdown is helping to accelerate take-up of digital banking services amongst consumers in Scotland, with many feeling more confident about using online and mobile channels, according to new research from Virgin Money. 

Published 27 May 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

David Bennett appointed as new chairman of Virgin Money

Virgin Money, formerly known as Clydesdale Bank, has announced that it has appointed David Bennett as its new chairman. 

Published 5 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

Clydesdale Bank and Yorkshire Bank offers support to business customers

Clydesdale and Yorkshire Bank, owned by Virgin Money UK, is one of the accredited lenders participating in the Coronavirus Business Interruption Loan Scheme, being delivered by the British Business Bank, to support the continued provision of finance to SMEs during the COVID-19 outbreak.

Published 24 March 2020

Age Scotland: Bank closures will hit older vulnerable customers hardest

Age Scotland, the national charity for older people, has warned that the latest Clydesdale Bank and Virgin Money closures risk creating banking deserts across Scotland.

Published 3 March 2020