Jayne-Anne Gadhia
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Virgin Money on creating 'great competitor' with Northern Rock

Northern Rock is being sold to Virgin Money for £747m, the government has announced.

The bank was nationalised in 2008 following its near collapse at the onset of the global credit crunch.

Speaking to the BBC, Jayne-Anne Gadhia, chief executive of Virgin Money, said "we absolutely aim for this to be a story of success and growth and growing competition."

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