Virgin On The Default

Following on from yesterday's NTI news report about poor Barclays and dear old Santander, there is a report today (Thursday 30 July) that Virgin Money, staggeringly the UK's sixth biggest bank, said it had yet to see many specific credit losses across its loanbook due to forbearance measures such as loan holidays and free overdrafts, but topped up its provisions for potential future losses by £42m to reflect a weaker economic outlook.