Virgin eyes RBS branch sale

Virgin Money is being heavily linked to a bid for the network of Royal Bank of Scotland branches that failed to be bought by Santander.

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Details on the Santander and RBS deal

  • Royal Bank of Scotland planned to sell 316 branches to Santander.
  • That included 311 branches in England and Wales and five NatWest branches in Scotland.
  • The deal was announced in August 2010 and was expected to be completed at the end of 2011.
  • The sale had been ordered by the European Commission after a state rescue for RBS.
  • Santander reportedly paid £1.65 billion for the RBS deal.

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