Annual Report and Accounts

Overview

The report describes Virgin Money’s progress in executing its digital-first strategy amid inflation and higher interest rates, with active relationship customer accounts reaching 3.8m and 9% growth in target lending segments. It reports statutory profit before tax of £345m and a 14.7% CET1 ratio, while outlining a three-year investment in financial-crime prevention. On sustainability, the company expanded financed-emissions coverage to about 85% of customer lending and reported an 11% like-for-like reduction in financed emissions. It also highlights greener mortgage development and initiatives supporting customers facing cost-of-living and digital-inclusion challenges.

Document

Report type: Annual Report with Sustainability Disclosures
Class: Embedded
Scope: Full report
Fiscal year: 2022-2023
Period: Ends 30 September 2023
Publication date: 22 November 2023
Language: English
Pages
File size
Restatement: Disclosed

Standards

GRI
SASB
TCFD
ISSB
ESRS
Integrated Reporting Framework
GHG Protocol
EU Taxonomy
CDP
Other

Materiality

Assessment
Basis

Assurance

Provider
Level
Standard
Scope
Statement included
Metrics assured

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