Virgin Money says it plans to proceed with its intention to float on the London Stock Exchange.

It expects admission to take place by the end of November 2014.

On October 17 it announced it was postponing its IPO.

Jayne-Anne Gadhia, Virgin Money’s 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.”