Jump to content
House Price Crash Forum

Virgin Money's profits plummet as the lender braces for a £501m surge in bad loans stemming from the pandemic


Recommended Posts

https://www.thisismoney.co.uk/money/markets/article-8985135/Virgin-Moneys-profits-plummet-gears-spate-bad-debts.html

Virgin Money's profits have fallen by 77 per cent to £124million in the last year, as the group braces itself for a surge in bad debts arising from the pandemic. 

The lender took a £501million impairment charge against an expected surge in bad loans as businesses and individuals battle to stay afloat financially.

David Duffy, chief executive of Virgin Money, said: 'Although the vaccine news is a strong cause of hope for the future, the economic benefits are still some way off when considering the immediate reality of current restrictions and so have not yet been factored into our near-term forecasts.'

 
 
0902fly2.jpg
 
(PS I know virginatlantic and virgin money are nothing to do with each other, but they are Hotties
Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
  • Recently Browsing   0 members

    No registered users viewing this page.



×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.