REG-ONE Savings Bank PLC : Acquisition <Origin Href="QuoteRef">OSBO.L</Origin>

OsbAnnouncement

29/02/2016 07:00

OneSavings Bank plc 
 
 ("OSB or the "Company") 
 
 Acquisition of £14m of UK 2nd charge mortgages (the "Transaction") 
 
 OneSavings Bank plc today announces that it has completed the purchase of a
portfolio of UK 2nd charge mortgages (the "Portfolio") from Melbourne
Mortgages Limited. The Portfolio has a principal outstanding balance of £14m
as at 31 December 2015, is well seasoned and predominantly performing. The
loans have since origination been serviced by OSB's secured loans business,
Prestige Finance, and are therefore well known to the Company. 
 
 The Transaction is in the ordinary course of business for OSB and has been
satisfied by cash from the Company's existing resources. 
 
 Enquiries: 
 
 OneSavings Bank plc 
 
 Alastair Pate: 01634 838 973 
 
 Brunswick Group 
 
 Robin Wrench / Simone Selzer t: 020 7404 5959 
 
 About OneSavings Bank plc 
 
 OneSavings Bank plc ('OSB') began trading as a bank on 1 February 2011 when
the trade and assets of Kent Reliance Building Society ('KRBS') were
transferred into the business. 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. 
 
 OSB focuses on selected sub-sectors of the lending market in which it has
established expertise, platforms and capabilities, and where opportunities
have been identified for both high returns on a risk-adjusted basis and strong
growth. These include Residential Mortgages (comprising first charge, second
charge and shared ownership), Buy-to-Let/SME and Personal Loans. OSB
originates organically through specialist brokers and independent financial
advisors. 
 
 OSB is predominantly funded by retail savings originated through the
established Kent Reliance franchise, which includes a network of branches in
the South East of England, as well as online and postal channels.
Diversification of funding is currently provided by a securitisation and OSB
joined the Funding for Lending Scheme in early 2014. 
 

 This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf
of NASDAQ OMX Corporate Solutions clients. 
 The issuer of this announcement warrants that they are solely responsible for
the content, accuracy and originality of the information contained therein. 
 Source: ONE Savings Bank PLC via Globenewswire 
 HUG#1989962