WASHINGTON — Big banks now know: Virgin billionaire Sir RichardBranson has them in his crosshairs.

He told a full house at BAI Retail Delivery at the Washingtonconvention center on Tuesday that even though his new bank,Virgin Money,onlykicked into high gear a few months ago when he purchased theremains of failed United Kingdom bank Northern Rock, “we alreadyoriginate one in three new mortgages in the UK.”

• ALSO at BAI Engage With Consumers and They Shall Engage WithYou
• ALSO at BAI Mobile Banking Rings theRegister
• ALSO at BAI Mobile Apps Go Open
• ALSO at BAI Sparks Fly at P2P Panel
• ALSO at BAI Mobile Wallet Wars Are On
• ALSO at BAI Kawasaki on Success

Branson paid 747 million pounds – roughly $1.2 billion – forNorthern Rock,an institution taken under public ownership in 2008 after a run onits assets.

“Northern Rock went spectacularly wrong. We decided to try tosave it,” said Branson, who started by changing the name – “thebrand was damaged” – to Virgin Money.