Virgin Money: who owns it, who runs it and what the accounts show
Clydesdale Bank Limited's person with significant control on the Companies House register is Virgin Money Uk Plc. In the year to March 2026 Clydesdale Bank Limited reported turnover of £4,519m.
- In the year to March 2026, Virgin Money had turnover of £4,519m, down 55.2% on the year before.
- It made a pre-tax profit of £191m.
- Clydesdale Bank ran the Virgin Money bank until 2 April 2026, when 'the majority of the Bank's assets and liabilities were transferred to Nationwide'; it now 'will solely focus on the issuance of Scottish banknotes'. Its latest figures cover the year to 31 March 2026 against an 18-month prior period, and the turnover shown is gross income before interest paid out (accounts to 31 March 2026, pp. 3 and 4).
- It employed an average of 8,002 people, with staff costs of £615m.
- Clydesdale Bank Limited is controlled by Virgin Money Uk Plc, according to the Companies House register.
- These figures are from Clydesdale Bank Limited's accounts for the year to March 2026, filed at Companies House on 24 July 2026.
- Registered name
- CLYDESDALE BANK LIMITED
- Company number
- SC001111
- Status
- Active
- Incorporated
- 3 April 1882
- Registered office area
- Glasgow
- Industry code on the register
- 64191: Financial service activities (excl insurance and pension)
- Accounts
- Single company accounts, this company only
- Accounts type
- Full accounts
- Latest accounts
- Year to March 2026, filed 24 July 2026
What does Virgin Money do?
Virgin Money is a UK bank brand offering mortgages, current accounts, savings, credit cards and business banking, and it has been part of Nationwide Building Society since 2024. These figures are for Clydesdale Bank, the company that ran the bank under the Virgin Money, Clydesdale Bank and Yorkshire Bank brands and earned most of its income from interest. In April 2026 almost all of its business and staff moved to Nationwide itself, leaving the company to issue Scottish banknotes only, so its later accounts will not show the Virgin Money bank.
In brief: UK bank brand · part of Nationwide · business moved to Nationwide in 2026 · company now issues Scottish banknotes
Source: Spark Intel editorial, checked 6 November 2026. Official website: uk.virginmoney.com.
Who owns Virgin Money?
The Companies House register records Virgin Money Uk Plc as the person with significant control of Clydesdale Bank Limited, company number SC001111. Virgin Money Uk Plc is itself company number 09595911.
That places Clydesdale Bank Limited inside a larger group. The accounts on this page are the company's own, not the wider group's.
The full ownership record is on the Companies House register. Control is given in the bands the register uses, not as exact shareholdings.
Who runs Virgin Money?
The Companies House register lists 12 current officers for Clydesdale Bank Limited.
All 12 current officers
| Officer | Appointed |
|---|---|
| Tracey Graham | 23 January 2025 |
| Jason Leslie Wright | 31 July 2025 |
| Muir Mathieson | 30 September 2025 |
| Gillian Riley | 30 September 2025 |
| Sally-Ann Orton | 30 September 2025 |
| Philip George Rivett | 30 September 2025 |
| Deborah Anne Crosbie | 30 September 2025 |
| Tamara Nayagi Heera Rajah | 30 September 2025 |
| Deborah Klein | 30 September 2025 |
| Guy Lawrence Tarn Bainbridge | 1 February 2026 |
| Michael John Rogers | 1 April 2026 |
| Simon Anthony McNamara | 1 September 2026 |
Every current officer, with appointment dates, is on the Companies House register.
What did Virgin Money file?
Clydesdale Bank Limited reported turnover of £4,519m in the year to March 2026. That was down 55.2% on £10,076m the year before.
It reported 8,002 employees. The year before it reported 7,305.
It filed a pre-tax profit of £191m for the year, against a pre-tax profit of £186m the year before.
Staff costs came to £615m. That is an average of £77,000 a head. It ended the year with £16,158m at the bank and net assets of £5,582m.
| Measure | Mar 2026 | Mar 2025 |
|---|---|---|
| Turnover | £4,519m | £10,076m |
| Pre-tax profit | £191m (filed) | £186m (filed) |
| Employees | 8,002 | 7,305 |
| Staff costs | £615m | £837m |
| Average staff cost per head | £77,000 | £115,000 |
| Bank and cash | £16,158m | £10,882m |
| Net assets | £5,582m | £5,609m |
| Directors' pay | £4m |
What these figures cover: Clydesdale Bank ran the Virgin Money bank until 2 April 2026, when 'the majority of the Bank's assets and liabilities were transferred to Nationwide'; it now 'will solely focus on the issuance of Scottish banknotes'. Its latest figures cover the year to 31 March 2026 against an 18-month prior period, and the turnover shown is gross income before interest paid out (accounts to 31 March 2026, pp. 3 and 4).
Read the accounts to March 2026 (PDF, Companies House) · every accounts filing
What do these figures mean? Turnover vs profit · Profit per £100 · Cash vs profit · Net assets
Are there any charges against Virgin Money?
Clydesdale Bank Limited has registered 18 charges at Companies House, and all of them have since been satisfied. A charge is security a lender takes over a company's assets; one is satisfied when the lending behind it is repaid or released.
Each charge, with its holder and dates, is on the Companies House register.
Virgin Money files as Clydesdale Bank Limited, whose person with significant control is Virgin Money Uk Plc, with turnover of £4,519m in its latest filed year.
Questions about Virgin Money
What does Virgin Money do?
Virgin Money is a UK bank brand offering mortgages, current accounts, savings, credit cards and business banking, and it has been part of Nationwide Building Society since 2024. These figures are for Clydesdale Bank, the company that ran the bank under the Virgin Money, Clydesdale Bank and Yorkshire Bank brands and earned most of its income from interest. In April 2026 almost all of its business and staff moved to Nationwide itself, leaving the company to issue Scottish banknotes only, so its later accounts will not show the Virgin Money bank.
Who owns Virgin Money?
The Companies House register records Virgin Money Uk Plc as the person with significant control of Clydesdale Bank Limited.
How much does Virgin Money make?
Clydesdale Bank Limited reported turnover of £4,519m in the year to March 2026. It filed a pre-tax profit of £191m.
How many people work at Virgin Money?
Clydesdale Bank Limited reported 8,002 employees in the year to March 2026.
Who runs Virgin Money?
The Companies House register lists 12 current officers for Clydesdale Bank Limited. The full list, with appointment dates, is on the Companies House register.
- Figures come from Clydesdale Bank Limited's filings at Companies House, company number SC001111, for the period shown at the top of the page.
- These are single company accounts: they cover this company alone, not any wider group.
- Pre-tax profit is the figure the company filed, for both years.
- A figure the filing does not disclose is shown as n/d. A zero in the filing is treated as not disclosed, never as nil.
- Rounding: below £0.1m in thousands, from £0.1m to £2m to one decimal place, from £2m to the nearest million.
- Ownership is shown in the control bands the register of people with significant control uses, not as exact shareholdings.
- Officers' names and appointment dates come from the Companies House register. Job titles come from the company's own website. The description of what the company does comes from its website, or is marked Spark Intel editorial where it is written from stable, checked facts, with the date either way.
Spark Intel, “Virgin Money: who owns it, who runs it and what the accounts show”, updated 6 November 2026. https://www.spark-intel.co.uk/companies/virgin-money/. Figures from Companies House filings for CLYDESDALE BANK LIMITED (SC001111).
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