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Kent Reliance is a banking services provider and trading name of OneSavings Bank plc, based in Kent, England. It took its name from the Kent Reliance Building Society (KRBS), which had been created in 1986 and incorporated Chatham Reliance (established 1898), Dover District (established 1861), Herne Bay (established 1888) and Kent and Canterbury (established 1847).

OneSavings Bank plc trading as Kent Reliance
Traded asLSEOSB
IndustryBanking and Financial Services
HeadquartersChatham, Kent, United Kingdom
Key people
David Weymouth (Chairman)
Andy Golding (CEO)
ProductsBuy to let mortgages, commercial mortgages, residential mortgages development finance, secured loans, retail savings
Revenue£282.1 million (2018)[2]
£183.8 million (2018)[2]
£140.3 million (2018)[2]
ParentKent Reliance Provident Society (59.9% share)

On 1 February 2011, Kent Reliance Building Society transferred its business to a new bank, OneSavings Bank plc, following the purchase of a stake in its business by private equity firm JC Flowers.

OneSavings Bank plc is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index. It 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. It operates through specialist brokers and independent financial advisors in sub-sectors of the lending market. These sub-sectors include Residential Mortgages (comprising first charge, second charge and shared ownership), Buy to let/SME and Personal Loans. The bank is predominantly funded by retail savings originating from the Kent Reliance franchise.



The company was established as Kent Reliance in 1847.[3]

KRBS was the fastest growing building society in the UK between 2003 and 2008 and was a member of the Building Societies Association. The dramatic growth of KRBS was driven in part by the establishment in 2002 of a wholly owned subsidiary, Jersey Home Loans Limited, to buy the Jersey mortgage business of Standard Chartered Grindlays Bank Ltd.[4] By September 2008, this subsidiary had mortgages on its books of over £700 million.[5]

Transfer to OneSavingsEdit

Logo of OneSavings Bank

In July 2010 JC Flowers announced its intention to purchase a stake of Kent Reliance,[6][7] forming OneSavings plc. The transfer of the business of the society to OneSavings was approved by a majority of members in November 2010.[8] Kent Reliance Building Society converted into a provident society, Kent Reliance Provident Society, which owns a 59.9% stake in OneSavings Bank, with JC Flowers owning the remaining 40.1%. The transfer became effective on 1 February 2011 and OneSavings plc was renamed OneSavings Bank plc.[9]

Recent yearsEdit

In August 2012 the company acquired InterBay Commercial, a specialist commercial and buy to let mortgage lender, established in 2006.[10] In September 2012 the company acquired Prestige Finance, a specialist provider of secured loans.[11]

In April 2014 the company established Heritable Development Finance, a joint venture with Heritable Capital, formed to provide financing predominantly for residential property developments for experienced property developers.[12]

OneSavings Bank was the subject of an initial public offering in May 2014.[13]

In December 2015 the company established Rochester Mortgages to acquire the mortgage book of a subsidiary of Deutsche Bank.[14]

In March 2019 it was announced that the company would merge with Charter Court Financial Services.[15] The transaction was competed in October 2019.[16]


KRBS was notable as the only member of the UK building society sector to have offshored administrative work to India, via its wholly owned subsidiaries, Easiprocess and EasiOption. The KRBS Group employed significantly more staff in India than it did in the UK.[17]


OneSavings Bank charity partners include Great Ormond Street Hospital,[18] and the KM Charity Team.[19] OneSavings Bank is a sponsor of the Kent County Football Association.[20]


  1. ^ "KRBS History". Retrieved 12 March 2011.
  2. ^ a b c "Annual Results 2018". OneSavings Bank. Retrieved 19 March 2019.
  3. ^ "Britain's building societies are key to getting decent financial services". The Independent. 22 October 2010. Retrieved 22 April 2017.
  4. ^ "Kent Reliance agrees Jersey mortgage book sale". Retrieved 7 November 2008.

    In a deal worth an estimated £50 million, Kent Reliance Building Society and Standard Chartered Grindlays announced that they had completed the sale of the Standard Chartered Grindlays Jersey mortgage book to Kent Reliance.

    Under the terms of the agreement, a new company was set up by Kent Reliance called Jersey Home Loans Limited. The new company catered for the needs of the Jersey borrowers and offered access via both post and internet to a range of services. Existing mortgage clients were being kept fully briefed by Standard Chartered Grindlays on all contact details and arrangements.

    [dead link]
  5. ^ "KRBS Annual Report & Accounts 2009" (PDF). Kent Reliance Building Society. Archived from the original (PDF) on 20 January 2010. Retrieved 13 February 2010.
  6. ^ "Kent Reliance and JC Flowers in joint venture talks". BBC News. 12 July 2010. Retrieved 12 July 2010.
  7. ^ Simon, Emma (12 July 2010). "Kent Reliance: your questions answered". The Daily Telegraph. Retrieved 12 July 2010.
  8. ^ "Kent Reliance to transfer funds to OneSavings". FT. 13 October 2010. Retrieved 22 April 2017.
  9. ^ "Kent Reliance's £50m deal to form OneSavings bank". This is money. 18 October 2010. Retrieved 15 February 2018.
  10. ^ "InterBay Commercial acquired by OneSavings Bank". Mortgage Strategy. 13 June 2012. Retrieved 22 April 2017.
  11. ^ "OneSavings Bank Acquire Prestige Finance". Financial Supporter. 19 September 2012. Retrieved 22 April 2017.
  12. ^ "Heritable Capital and OneSavings Bank joint venture". Ingram Winter Green. 22 April 2014. Retrieved 22 April 2017.
  13. ^ "OneSavings Bank to raise £41m in IPO". Guardian. 4 May 2014. Retrieved 13 June 2015.
  14. ^ "Challenger bank to buy £396m mortgage portfolio". Loan Talk. 24 February 2010. Retrieved 22 April 2017.
  15. ^ "Charter Court and OneSavings Bank merger agreed". Express and Star. 14 March 2019. Retrieved 2 October 2019.
  16. ^ "Scheme becomes effective". Investgate. 4 October 2019. Retrieved 4 October 2019.
  17. ^ "KRBS Report & Accounts 2008" (PDF). Kent Reliance Building Society. Retrieved 11 July 2009.[permanent dead link]
  18. ^ "OneSavings Bank Great Ormond Street Hospital Charity". Great Ormond Street Hospital. Retrieved 22 April 2017.
  19. ^ "Kent Reliance announced as headline sponsors of Maidstone located KM Dragon Boat Race". Kent on line. Retrieved 22 April 2017.
  20. ^ "Kent Reliance Announced as Sponsors of the Kent County Cups for the 2015-2016 Season". Kent County Football Association. 6 August 2015. Retrieved 22 April 2017.

External linksEdit