Virgin Money has announced that it will create 200 new jobs, 120 of which will be based in the North East.
The announcement was made earlier today when the Chancellor, George Osborne, visited Virgin Money's site in Gosforth, Newcastle. The visit also included a tour of the bank's high street branch in Newcastle city centre.
Virgin Money bought Northern Rock from the Government in 2011. As part of that deal, Virgin Money will pay a further £154.5 million to the Treasury.