Branson's Virgin launches British banking shake-up
2010-01-08 · International Property News
Virgin Money, part of Richard Branson's Virgin empire, launched a shake-up of Britain's troubled retail banking market on Friday with the purchase of a private regional lender. Virgin said it had agreed to buy Church House Trust for 12.28 million pounds (R142 million) and would use the bank to offer savings and mortgage products to customers under the Virgin Money brand.
"The Church House Trust business offers us a strong platform for growth," Branson said in a statement announcing the deal. "Virgin Money aims to bring simplicity to the UK banking market which has traditionally been a complex sector," he added.
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