CYBG plc (CYBGC.L, CYBG LN)
CYBG is a UK retail bank, offering current accounts, mortgages and unsecured loans to consumers as well as banking products to SMEs. It acquired Virgin Money in 2018, which is currently being integrated into the business. Over time, the heritage businesses of CYBG (Clydesdale Bank, Yorkshire Bank) will be rebranded as Virgin Money. CYBG has developed an open banking platform (iB), off which it has developed its retail banking app B and it plans to leverage this platform further through partnerships with FinTechs. In the medium term, CYBG continues to pursue balance sheet growth and optimise its funding mix, while also seeking to reduce operating expenses as it integrates Virgin Money.
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