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OneSavings Bank is on the verge of acquiring Interbay

OneSavings Bank, which is part-owned by JC Flowers, has revealed that it is in advanced talks to buy commercial lender Interbay Group.

The move is believed to be part of OneSavings’ strategy to broaden its lending activities.

An announcement on the London Stock Exchange last Friday said: “OneSavings Bank today announces that it has entered into documentation to conditionally acquire the entire issued share capital of the Interbay Group, a specialist lender with gross assets of £56.3m, from CS Capital Partners II L P – managed by Cabot Square Capital LLP.”

In September 2008 Interbay was sold by its US parent, Bayview Financial, to rival UK commercial lender 5D Group for an undisclosed sum. The firms merged and relaunched under the Interbay brand.


History shows SVR anger is misplaced

Banker bashing is pretty much a national pastime these days and it’s a brave soul who heaps praise on them. But the only conclusion one can make from our cover feature in this week’s Lending Zone – which puts under the microscope the sticky issue of lenders’ funding costs – is that when it comes […]

Bank sets up independent reviews of its crisis response

The Bank of England has set up three independent reviews into how effective its response to the financial crisis has been over the past five years. The three reviews will focus on ensuring the Bank has the capability to respond to future crises and will pay close attention to the collapse of Lehman Brothers in […]

Virgin reduces mortgage rates

Virgin Money has reduced the interest rates on a number of its fixed rate mortgages by up to 0.20%

Identifying best-in-class UK stocks — Mark Martin, Neptune UK Opportunities Fund

FE Alpha Manager Mark Martin assumed management of the multi-cap UK Opportunities Fund at the beginning of February. As manager of the highly regarded UK Mid Cap Fund, Martin has begun restructuring the new portfolio to focus on our very best UK stock ideas from across the FTSE All-Share Index. In this video, update Martin addresses:

– Themes informing the UK Opportunities Fund
– The multi-cap structure of the fund
– UK equity valuations


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