Sir Richard Branson’s Virgin Money has announced it is to buy regional bank Church House Trust for £12.3 million and will invest £37.3 million into the business. Virgin Money, which was unsuccessful in acquiring crisis-torn Northern Rock two years ago, already offers savings, credit card and investment products to around 2.5 million customers. The purchase [...]

More: Virgin Money buys regional bank Church House Trust

This is pretty big news, really - Tesco, Sainsburys, and now Virgin, looking to repopulate the banking sector while there's a gap.

It's good to have more choices... although isn't there a limit on the number of new banks that can get licenses?

Hopefully this is just the start of it.

Tesco are coming through with their "Money Shop" and Virgin are gearing up to become a proper bank.

Strangely enough I have just published a blog regarding the competition between Virgin Money and National Australia Group (Yorkshire Bank & Clydesdale Bank) for the acquisition of the Northern Rock assets.

Northern Rock: Who will win the race?

It would be really good if either of you could give me some feedback on the blog, feel free to make comments.