Jordan Simpkins didn’t even consider moving to a smaller lender such as Virgin Money Plc or Metro Bank Plc when she was looking to switch her checking account.
On a cold, clear January morning, Sir Richard Branson finds himself standing in the middle of a pedestrian-friendly street in Newcastle -- a hardscrabble city in northeast England -- becoming something he never thought he would be: a banker.
U.K. policy makers should relax rules for smaller lenders to stimulate competition in the industry, according to the British Bankers’ Association.
J.C. Flowers & Co., Christopher Flowers’s leveraged-buyout firm, raised 134 million pounds ($224 million) in an initial public offering of British lender OneSavings Bank Plc.
Lloyds Banking Group Plc has buyers for all the shares of its TSB Bank Plc after offering the stock to investors at a discount, said two people with knowledge of the matter.
Virgin Money Holdings U.K. Ltd., the bank that bought Northern Rock Plc, is starting to search for advisers for an initial public offering, according to a person with knowledge of the matter.
Virgin Money Ltd. is close to winning its bid to buy Northern Rock Plc in a 1 billion-pound ($1.6 billion) transaction, the Sunday Times reported, citing unidentified sources close to the sale.