OSB announces the acquisition of a mortgage portfolio from Arbuthnot
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.£55 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
