Ann: CYBG PLC - First Quarter 2019 Trading Update, page-39

Not sure when I said 0.6x, but looking at the Sep-18 proforma balance sheet of the combined VM/CYB group (page 5 of the Q1 trading update), the combined book value (including intangible items) is 5.2bn pounds. Based on the LSE closing price of 1.97 pound per share, the B/V is 0.54x.

Note I haven't bothered working out the impact of the dividend, the 161m pounds of exceptional items in Q1 (VMBD closure, integration costs, etc, PPI). I have also not bothered to factor in any further share price declines on ASX and FX to work out the current market cap.

But I would suggest 0.6x is about right.