Full Year 2021 Virgin Money UK PLC Trading Statement Call Transcript
Hello. Good morning, and good evening to those of you who joined from Australia, and thank you for attending this call. As you are aware, we have made the decision to accelerate our Digital First strategy following our observations of market trends emerging in the post-pandemic environment. We recently issued an RNS indicating that we are executing a material reduction in our brand presence. In recent days, we have completed our Digital First strategy analysis and have agreed the financial outcomes with our Board. Given the launch of our new strategy with updated guidance, we felt that it was appropriate to communicate these outcomes as soon as possible. My intention today is to provide an overview on our financial performance in 2021, but I will also address what the acceleration of our Digital First strategy will deliver, both for our customers and also for our shareholders in terms of medium-term guidance on RoTE and costs.
In headline terms, accelerating our Digital First strategy means that over the next 3 years, we will
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