Mortgage News
Virgin confirms interest in Lloyds and RBS branches
Virgin Money chairman Brian Pitman has confirmed rumours that the bank is interested in buying Lloyds and Royal Bank of Scotland branches in an interview with Sky News.
Pitman, the former chairman and chief executive officer of Lloyds TSB who has been appointed to the Virgin Money board, said the bank would be interested if the branches were in good locations.
He added that it would be quicker for the bank to buy branches of existing banks.
Virgin would try to buy Northern Rock’s branch network when it goes up for sale if the price was right, he added.
However, he believes the Government will not sell Northern Rock until the second half of the year because it wants to show that the good bank is stable.
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