CYBG begins rebrand

Michael Lloyd

October 23, 2019

CYBG will rebrand as Virgin Money by the end of the month after completing the legal transfer of Virgin Money’s business to Clydesdale Bank.

After the £1.7bn takeover all customers of Clydesdale Bank, Yorkshire Bank, digital banking service B and Virgin Money brands will be served from a single authorised and regulated banking entity.

The gradual rebrand process will begin with the B digital banking service changing to the refreshed Virgin Money brand by the end of 2019.

In 2020 the rebranding of Yorkshire Bank and Clydesdale Bank will begin.

David Duffy, chief executive of CYBG, said: “Today is an important milestone in creating the new Virgin Money, a bank that has the clear ambition to disrupt the status quo, and brings the best of both heritage banks together for the benefit of our customers.

“With all of our six million customers under one single banking licence we can now offer a full suite of products, excellent customer service ethos and technology know-how across the combined business.

“The brand relaunch and full rebrand can now begin: the first digitally enabled Virgin Money personal current account will launch by the end of the year and we will start bringing the new Virgin Money to the high street in December.

“These will be the first visible steps to creating a new force in consumer and business banking and over time we will evolve our offering to include a Virgin-focussed rewards programme with unique offers and personalised benefits only available to Virgin Money customers.

“We will engage with our customers and keep them up-to-date as we transform our business to operate under the iconic Virgin brand.”

In December CYBG will open its doors to personal and business customers in Manchester, Birmingham and Kensington under the Virgin Money brand.

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