Hundreds of small businesses are to press ahead with a £350 million legal action against CYBG over claims they were mis-sold loans. RGL Management, which represents the SMEs, expects to…
Category: Financial News
CYBG to face legal action over mis-sold loans
Hundreds of small businesses are to sue the Glasgow-headquarted bank and its former parent, National Australia Bank (NAB) over losses from tailored business loans that were sold to them between…
CYBG falls to after-tax loss following £352m PPI hit
Shares in Clydesdale Bank and Virgin Money owner CYBG slid 17% after it announced a loss after tax of £145 million as a result of legacy mis-selling issues. The Glasgow-based…
Clydesdale sees £600m wiped off stock market value
Shares in Clydesdale Bank owner CYBG plunged nearly 17 per cent after the institution warned over Brexit and made additional provision for payment protection insurance (PPI) mis-selling, wiping £600 million from…
Virgin Money and Clydesdale bank owner CYBG swings to a loss as it faces legal action over mis-sold loans
Shares in CYBG, the group that recently bought Virgin Money, fell more than 10 per cent after it swung to a full-year loss and warned of lower levels of business…
Virgin Money boss says CYBG takeover is sign UK banking sector has recovered
The boss of Newcastle bank Virgin Money has said that the lender’s £1.7bn takeover by CYBG is a clear demonstration of the industry’s recovery following the 2018 financial crash. The…