Nationwide gets £2.3bn from Virgin Money deal to 'benefit' clients

NAMPA / DPA

2024-11-27

London (PA Media/dpa) - Britain's Nationwide Building Society said it has gained £2.3 billion since buying rival bank Virgin Money, but reported a drop in profits as the benefit of higher interest rates faded and it dished out cash to members. The building society said the value of Virgin Money, which it acquired in October, was well above the £2.8 billion ($3.5 billion) takeover price. The tie-up marked the UK's biggest banking merger since the......

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