Virgin’s funding costs rise by 25% amid switch away from TFS

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By Tyler Davies
28 Nov 2019

Virgin Money revealed in a presentation on Thursday that its cost of funding had risen by 31bp in the last year, as the UK lender looks to replace central bank money with financing from the capital markets.

In a presentation alongside its latest results, Virgin Money showed that its average funding costs had moved from 117bp at the end of September 2018 to 148bp at the end of the same month this year.

The higher cost of financing — up by more than a quarter ...

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