OneSavings Bank in float rumours

OneSavings Bank, the bank created out of a rescue deal for Kent Reliance Building Society, is rumoured to be preparing to float on the stock market next year.

The lender has reportedly begun talks with investment banks about a listing during 2014.

A spokeswoman for OneSavings says: “I can confirm that OneSavings Bank is reviewing various options to continue to build the business for the long-term benefit of all its stakeholders whilst maintaining the bank’s mutual ethos. To make any further comment would be premature.”

OneSavings Bank was set up in August 2010 and is jointly owned by Kent Reliance Provident Society and private equity firm JC Flowers.

When OneSavings Bank was set up in 2010, JC Flowers was said to be looking to use the company as platform to acquire further building societies, to create a “super-mutual.”