Directorate change

LEI: 213800WTQKOQI8ELD692

OneSavings Bank plc (“OSB”)
Directorate Changes

OneSavings Bank plc, the specialist lending and retail savings bank, announces that Non-Executive Directors Tim Brooke, Margaret Hassall and Ian Ward have each decided that they will not stand for election or re-election at the annual general meeting on 7 May 2020.

Andy Golding, Chief Executive of OSB, said:  “On behalf of the OSB Board and executive team I would like to thank Tim, Margaret and Ian for their guidance and contributions on the Board, and wish them well in their future endeavours.”

David Weymouth, Chairman, said: “On behalf of the entire OSB Board I would like to thank Tim, Margaret and Ian for their significant contributions, particularly during the combination with Charter Court Financial Services Group plc last year.”

Enquiries:

OneSavings Bank plc

Alastair Pate                                                                             t: 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 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 (“CCFSG”) and its subsidiary businesses. 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 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, InterBay Commercial and Prestige Finance. 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, the Term Funding Scheme and the Bank of England Indexed Long-Term Repo operation.