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Recent experimental data on the radiative decays B -> V gamma, where V is alight vector meson, find small isospin violation in B -> K^* gamma whileisospin asymmetries in B -> rho gamma are of order 20%, with largeuncertainties. Using Soft-Collinear Effective Theory, we calculate isospinasymmetries in these radiative B decays up to O(1/m_b), also including O(valpha_s) contributions from nonperturbative charming penguins (NPCP). In theabsence of NPCP contributions, the theoretical predictions for the asymmetriesare a few percent or less. Including the NPCP can significantly increase theisospin asymmetries for both B -> V gamma modes. We also consider the effect ofthe NPCP on the branching ratio and CP asymmetries in B^\pm -> V^\pm gamma.

Nonperturbative Charming Penguin Contributions to Isospin Asymmetries in Radiative B decays