The group initially planned to list on the main market in October, but as macroeconomic fears hit markets, the bank shelved the listing.

A recent boost for the banking sector from the Bank of England’s leverage ratio review, which imposed less onerous conditions than expected, has also helped Virgin revive its plans.

It now expects admission to take place by the end of November 2014.
 
Jayne-Anne Gadhia, chief executive officer, said: “Our business performance remains strong, and on Friday we published our Q3 trading update which demonstrates our continued growth momentum.
 
“We welcome the clarity provided by the Financial Policy Committee on the leverage ratio, and are pleased to note that we operate in excess of the recommended requirements.
 
“Given this and given more stable market conditions, we now plan to move forward with our IPO with the aim of being admitted by the end of November. Access to the public capital markets has been a long-term strategic objective for Virgin Money, and we are now ready to take this important step forward for our business.”

Fund managers have welcomed the end of ‘opportunistic’ IPOs following a raft of failures.