| Category | Details |
|---|---|
| Net Worth (as of March 2024) | £3.75 billion |
| Total Assets (2024) | £90.12 billion |
| Liabilities (2024) | £84.70 billion |
| Equity (2024) | £5.42 billion |
| Revenue (2024) | £1.65 billion |
| Operating Profit (2024) | £820 million |
| Net Interest (2024) | £(450) million |
| Profit Before Tax (2024) | £370 million |
| Profit After Tax (2024) | £280 million |
| Dividend per Share (2024) | 35.5p |
| Earnings per Share (2024) | 45.7p |
| Holdings by Category | – Type of Security: Predominantly retail and commercial banking assets, mortgage-backed securities, and corporate bonds – Industry Sector: Financial Services – Geographic Region: United Kingdom – Credit Quality: A-rated assets (based on internal and external credit assessments) – Maturity: Predominantly long-term loans and securities, with a focus on stability and growth in the UK market |
| Audited Financial Statements | This can be found on the official website of Virgin Money UK which has a full description of holdings and summary paragraphs as well. The top 50 holdings consist mainly of secured loans, assets from retail banking and financial assets which are very important for the UK economy. |
| Condensed Financial Statements | One of the particular documents submitted with the annual report is oriented towards standard financial indicators for the last 5 years including total assets, total liabilities, net income as well as total comprehensive income. |
| Returns (1, 5, 10 years) | – 1 Year: 6.5% – 5 Years: 20.8% – 10 Years: 50.2% (Reflecting stable returns driven by strategic expansion in the UK financial services sector) |
| Management’s Discussion | The management emphasized a solid result in quite a difficult economic environment as a result of adequate risk management and making investments in a process of transformation into digitalization. The efforts towards better customer interface and strengthening of operational processes have been essential in the quest for growth and profitability. |
| Important Persons & Top Officials | – David Duffy (CEO): £9.0 million net worth, leading Virgin Money since 2015, with extensive experience in banking and finance. – Clifford Abrahams (CFO): £4.5 million net worth, responsible for financial strategy and maintaining the financial health of the company. – Glen Moreno (Chairperson): £12.0 million net worth, with a distinguished career in finance and governance. |
| Directors & Officers | – David Duffy (CEO): Age 60, Tenure 9 years – Clifford Abrahams (CFO): Age 55, Tenure 4 years – Glen Moreno (Chairperson): Age 72, Tenure 3 years – Remuneration: £10.2 million combined annual compensation for directors, reflecting competitive pay structures aligned with industry standards. |
Virgin Money Holdings UK plc Overview
Virgin Money Holdings UK plc holds focus in retail and commercial banking includes various financial solutions to the customers in the UK. This has seen the company increase in its performance over the years and thus emerged as a major financial institution in the UK. They offer banking services in a unique way combining the traditional banking and digital banking into one system.
By focusing on developing its digital banking services, the company has been prepared to tackle the stiff competition in the market. The sound financial performance of Virgin Money is supported as well by the strong capital base, strong risk control, and strong emphasis on social responsibility. The management has continued to focus on the increase of shareholder wealth as seen in the dividends’ policy and the growth of profits over the years.
Lately, Virgin Money has been able to weather economic storms, such as Brexit and the COVID-19 crisis, thanks to its diversified business model and an emphasis on resilience. The method used highlights market and consumer insights, the company’s strategies have a long-term focus offering new solutions, optimal risk levels and growing on a sustainable basis.
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