PUNTERS give VIRGIN BANK the thumbs-down

01 May 1998

THE JOINT direct-banking venture between Richard Branson and the Royal Bank of Scotland, Virgin One, looks to be a resounding flop, having signed fewer than 1,000 customers despite massive press coverage during its launch last autumn. However, RBS claims it has had 'thousands of expressions of interest and is processing lots of applications'. The bank says it has a loan book worth £250m 'in the pipeline'.