Published 3 years ago

Virgin Money profit slumps on half-billion pound bad loan charge

Summary by Reuters

- Virgin Money UK reported a 77% drop in annual underlying pre-tax profit on Wednesday, as it took a 501 million pound impairment charge against an expected surge in bad loans in Britain's coronavirus-driven economic downturn. The UK's sixth-largest lender reported an underlying pretax profit of 124 million pounds for the 12 months ended Sept. 30, compared to a profit of 539 million

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Reuters

Virgin Money profit slumps on half-billion pound bad loan charge

3 years ago·United Kingdom

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RTÉ

Virgin Money profit slumps on £500m bad loan charge

Virgin Money UK has today reported a 77% drop in annual underlying pre-tax profit, as it took a £501m impairment charge against an expected surge in bad loans in Britain's coronavirus-driven economic downturn.

3 years ago·Ireland

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This Is Money

Virgin Money's profits plummet as it gears up for spate of bad debts

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

3 years ago·United Kingdom

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