OSB GROUP PLC Osb Announces The Acquisition Of A Mortgage Portfolio From Arbuthnot
February 26 2021 - 12:47PM
UK Regulatory
TIDMOSB
LEI: 213800ZBKL9BHSL2K459
OSB GROUP PLC
(the Company)
OSB announces the acquisition of a mortgage portfolio from Arbuthnot
OSB GROUP PLC announces that it has exchanged and completed the purchase
of a c.GBP55 million portfolio of UK residential mortgages from
Arbuthnot Banking Group PLC (Arbuthnot). The portfolio was acquired at a
discount to current balances and will continue to be serviced by Exact,
OSB's in-house servicer. The addition of this loan book will supplement
the Group's strong organic growth.
Jens Bech, Group Commercial Director of OSB, said:
"We have a disciplined investment process and this portfolio meets our
return hurdles. We will continue to evaluate opportunities as they arise
to supplement the ongoing organic growth opportunities we have in front
of us".
Enquiries:
OSB GROUP PLC
Alastair Pate Investor Relations t: 01634 835 796
Brunswick
Robin Wrench / Simone Selzer t: 020 7404 5959
Notes to Editors
About OSB GROUP PLC
OSB began trading as a bank on 1 February 2011 and was admitted to the
main market of the London Stock Exchange in June 2014 (OSB.L). OSB
joined the FTSE 250 index in June 2015. On 4 October 2019, OSB acquired
Charter Court Financial Services Group plc (CCFS) and its subsidiary
businesses. On 30 November 2020, OSB GROUP PLC became the listed entity
and holding company for the OSB Group. OSB is a specialist lending and
retail savings Group authorised by the Prudential Regulation Authority,
part of the Bank of England, and regulated by the Financial Conduct
Authority and Prudential Regulation Authority. The Group reports under
two segments, OneSavings Bank and Charter Court Financial Services.
OneSavings Bank
OSB primarily targets market sub-sectors that offer high growth
potential and attractive risk-adjusted returns in which it can take a
leading position and where it has established expertise, platforms and
capabilities. These include private rented sector Buy-to-Let, commercial
and semi-commercial mortgages, residential development finance, bespoke
and specialist residential lending, secured funding lines and asset
finance.
OSB originates mortgages organically via specialist brokers and
independent financial advisers through its specialist brands including
Kent Reliance for Intermediaries and InterBay Commercial. It is
differentiated through its use of highly skilled, bespoke underwriting
and efficient operating model.
OSB is predominantly funded by retail savings originated through the
long-established Kent Reliance name, which includes online and postal
channels as well as a network of branches in the South East of England.
Diversification of funding is currently provided by securitisation
programmes and the Bank of England funding schemes including, the Term
Funding Scheme, the Term Funding Scheme for SMEs and the Indexed
Long-Term Repo.
Charter Court Financial Services Group
CCFS focuses on providing Buy-to-Let and specialist residential
mortgages, mortgage servicing, administration and credit consultancy and
retail savings products. It operates through its three brands: Precise
Mortgages, Exact Mortgage Experts and Charter Savings Bank.
It is differentiated through risk management expertise and best-of-breed
automated technology and systems, ensuring efficient processing, strong
credit and collateral risk control and speed of product development and
innovation. These factors have enabled strong balance sheet growth
whilst maintaining high credit quality mortgage assets.
CCFS is predominantly funded by retail savings originated through its
Charter Savings Bank brand. Diversification of funding is currently
provided by securitisation programmes and the Bank of England funding
schemes including, the Term Funding Scheme, the Term Funding Scheme for
SMEs and the Indexed Long-Term Repo
(END) Dow Jones Newswires
February 26, 2021 12:47 ET (17:47 GMT)
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