ONESAVINGS BANK PLC Update On Payment Of 2019 Final Dividend

 
TIDMOSB 
 
 
   LEI: 213800WTQKOQI8ELD692 
 
   3 April 2020 
 
   OneSavings Bank plc (the 'Group') 
 
   Update on payment of 2019 final dividend 
 
   In order to help us to serve the needs of businesses and households 
through the extraordinary challenges presented by Coronavirus (COVID-19), 
the Board of OneSavings Bank plc (the 'Board') has decided to cancel the 
payment of the final 2019 dividend in relation to ordinary shares, 
payable on 13 May 2020.  Accordingly, resolution 5 in relation to the 
declaration of this dividend will be withdrawn from the Annual General 
Meeting, which is scheduled to take place on 7 May 2020. The Board will 
continue to assess the appropriateness of dividend payments and decide 
on any dividend policy and amounts at year-end 2020. 
 
   The Group remains highly liquid and well-capitalised, and on a pro forma 
basis, excluding the final dividend for 2019, the CET1 ratio would have 
been c.0.6% higher at c.16.6% as at 31 December 2019. 
 
   Enquiries: 
 
   OneSavings Bank plc 
 
   Alastair Pate                                                                             t: 01634 838 973 
 
 
   Brunswick Group 
 
   Robin Wrench/Simone Selzer                                                     t: 020 7404 5959 
 
 
   THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION 
 
   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 ('CCFS') 
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. 
 
   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, 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. 
 
   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, the Term Funding Scheme and the 
Bank of England Indexed Long-Term Repo operation. 
 
 
 
 

(END) Dow Jones Newswires

April 03, 2020 02:00 ET (06:00 GMT)

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