Virgin Money Share Discussion Threads

[adejuk] 17/8/2017 14:24

nor the market

[montyhedge] 17/8/2017 14:21

Two directors sell, I never like that.

[montyhedge] 15/8/2017 08:41

Hopefully Virgin not in the unsecured car loan market, that worries me.

[carer] 01/8/2017 11:24

I guess the bank must be I a better position to know the credit lending conditions than some people were guessing, which were one of the reasons for the share fall after good result. The professional lenders will always get their money back somehow. will buy some soon on this one.

[its the oxman] 28/7/2017 16:00

300p again soon

[adejuk] 26/7/2017 10:08

indeed wtd but holding for 340

[bobosh13] 26/7/2017 09:34

Regarding CET1, it is still way above their 12% target. Holding too much in CET1 capital is inefficient. They have to use every single pp of capital to stay competitive, therefore they can't hold 15%-18% CET1 capital that bigger banks hold. This was actually mentioned by the CEO in the presentation yesterday. I don't see this as an issue at all.

[whattheduce] 26/7/2017 06:53

adejuk, you on here too? I'm just bagging a rebound from a 9% drop, most likely today or tomorrow,

[r ball] 25/7/2017 20:45

Disagree. Bad results. CET1 miss for a starters. Avoid.

[catsick] 25/7/2017 18:08

These results look pretty good to me, very decent margins and healthy cost income levels, I am guessing the market doest like the fact that the loan book is increasing in size faster than the capital they are generating, they are also increasingly using wholesale funding although they highlight the fact that they are about to start issuing covered bonds which I imaging should get them very cheap long term funding. All in all I think the growth in profitability outweighs the slight increase in leverage, so bought a few more today..

[che7win] 25/7/2017 17:48

Interest rates rising would help margins here though.

[montyhedge] 25/7/2017 16:48

Increase in impairments when interest rates at record low, if interest rates rise, then surely consumers in trouble.

[shawzie] 25/7/2017 16:12

I agree with sentiments expressed in postings 150 and 154.
However "Intangibles" has increased from £46m to £99m in two and a half years.
Perhaps some items treated as intangibles should be treated as costs in the year in which they are incurred.
Is the accounting system making the market nervous?

[adejuk] 25/7/2017 13:39

that gap to 265 always worried me a little
looks like it's going to be filled.

[cc2014] 25/7/2017 13:22

VM. says it expects the UK housing market to remain resilient. However, it adds "in the near term there may be some areas of weakness to be navigated".

It seems any negative statement these days in relation to the housing market is enough to bring the sellers out in droves.

[bobosh13] 25/7/2017 09:51

Can't see any negatives apart from a slight increase in impairments, but this is natural given a relatively higher increase in loan balances compared to mortgage balances. Given that loans have relatively higher impairments, so with higher weight of those balances, it's natural for the impairments to increase.
Not sure what the overreaction is really, as all the results are extremely positive. Will be adding more.

[che7win] 25/7/2017 09:06

Not bad results:

Shore Capital said the first half numbers were slightly ahead of its forecasts.

“The outlook statement remains confident in the prospects of the group and its ability to continue delivering strong balance sheet growth while not sacrificing credit quality; however, the market is concerned about the accounting for credit card balances whereby revenue is booked before cash is received due to the prevalence of interest free balance transfer products,” noted Shore’s Gary Greenwood.

“This is assumption based, with the proportion of customers staying beyond the initial promotion period being key. The group has a number of promotions that come to an end in H2 and this should provide a good steer as to whether management’s assumptions are correct,” he added.

[its the oxman] 25/7/2017 09:00

Be interesting to see how morning presentation goes and any reaction or not afterwards.

[its the oxman] 25/7/2017 08:58

Is it accelerating use of tfs, nim being slightly lower than forecast?

[adejuk] 25/7/2017 08:53

in context, not much of one. hard to understand reaction.

[montyhedge] 25/7/2017 08:29

Yes bit of a worry.

[jakedog2] 25/7/2017 08:25

impairments +28%

[its the oxman] 25/7/2017 08:16

Not what we hoped. Yet results seem to read ok. Answers anyone?