Virgin Interested in RBS Branches
Published / Last Updated on 14/10/2012
Virgin Interested in RBS Branches.
Following the collapse of a deal in which Santander would buy 300 Royal Bank of Scotland (RBS), Virgin Money has now taken an interest. Virgin Money is clearly on an acquisition trail after its takeover of Northern Rock and any deal would make Virgin Money a formidable banking force.
RBS must sell the branches as part of the EU conditions when the government bailed it out.
Our view
We do not like Virgin Money as some of their products are not always competitive and too simple. However, they are innovative and a new banking force will be a ‘shot in the arm’ for the consumer as we are sure Virgin Money will look to shake up a few of the major banking groups with change to basic banking services.