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Latest Key Developments (Source: Significant Developments)

Shawbrook buys mortgage portfolio, in talks to buy commercial and buy to let loans
Thursday, 25 May 2017 02:00am EDT 

May 25 (Reuters) - Shawbrook Group Plc :Shawbrook Group Plc says successfully acquired a 53 million stg portfolio of first charge complex mortgages from a specialist mortgage lender.Shawbrook also announces that it is in exclusive negotiations with a UK-based lender to acquire a portfolio of commercial and buy to let loans.Exact quantum of portfolio is still to be determined, it is anticipated that it will be in excess of 300 million stg.  Full Article

Shawbrook spares savers from Bank of England rate cut
Friday, 12 Aug 2016 06:44am EDT 

Shawbrook Group Plc : Said on friday it has decided not to pass on the full 0.25 percent bank of england rate cut to its savings customers . has not reduced the rates on its new offers with the exception of 3 products, which have seen smaller cuts than the 25bp rate cut, and it has recently increased rates on most of its fixed rate bonds. . has not reduced any of its rates for existing savers, with the exception of certain accounts which track the Bank of England base rate .Steve Pateman, CEO, commented: “We value our saving customers and see them as long term partners, as we do our borrowing customers.”.  Full Article

Shawbrook CEO says Brexit to impact level of lending growth
Wednesday, 27 Jul 2016 06:06am EDT 

Shawbrook Group Plc will have a lower period of growth than the company would have seen if Britain had not voted to leave the EU - CEO For the full story, click on:.  Full Article

Shawbrook Group says H1 pretax profit up 14 pct
Wednesday, 27 Jul 2016 02:00am EDT 

Shawbrook Group Plc : Interim results for the six months ended 30.06.16 . H1 underlying profit before tax up 14 pct from same period in 2015 to 38.0 mln stg, statutory PBT: 35.2 mln stg . Growth in book to 3.8 bln stg as we progressively increased originations by 22 pct to 993 mln stg, with strong growth across all three divisions . At present we are not seeing any material change in activity and indeed some markets that slowed in run up to referendum have picked up - CEO . Will continue to be cautious yet confident in our outlook and we are well prepared for a softer economic environment . Underlying PBT in H1 2016 would have been 41 pct higher when compared to H1 2015, 78 pct on a statutory PBT basis . Cost to income ratio of 47.9 pct, statutory cost to income ratio: 50.2 pct . Reaffirm our previous dividend guidance . Have already seen economic forecasts move from a near certain recession on June 24 to lower but still respectable growth rates for 2017 in latest IMF forecasts .Too soon to fully assess medium term Brexit impacts on broader economy given number of outcomes that remain possible - CEO.  Full Article

Shawbrook Group says to take $12 mln charge, CFO Wood to leave
Tuesday, 28 Jun 2016 02:00am EDT 

Shawbrook Group Plc : Announces that it has accepted resignation of Tom Wood .Dylan Minto, who is currently director of strategy, will become interim CFO.  Full Article

Shawbrook Group says H1 trading in-line with previous forecast
Tuesday, 28 Jun 2016 02:00am EDT 

Shawbrook Group Plc : Announces a trading update ahead of its interim results for six months to June 30 2016 . Shawbrook confirms that trading has been in line with guidance given at investor day, May 5 2016, with Q2 2016 originations flat on Q1 2016 and up 35 pct on Q2 2015 . As a result of irregularities in one office in asset finance part of our business finance division, group expects to book an additional impairment charge of 9 mln stg in Q2 2016 on impacted facilities of 14.7 mln stg . Irregularities, which have now been rectified, were result of a number of loans being underwritten in our asset finance business that did not meet business's strict lending criteria .Control breach was identified by group's upgraded risk management systems and controls, which were implemented following significant investment through 2015 and H1 2016.  Full Article

Shawbrook says Special Opportunities Fund sells 13.8 mln shares of co
Friday, 27 May 2016 08:10am EDT 

Shawbrook Group Plc : Sale of Shawbrook Group Plc shares . Special Opportunities Fund sold 13.8 million shares in company, representing 5.51 pct of company's issued share capital . Following sale, SOF holds, in aggregate, 97.4 mln million shares in company, representing 38.87 pct of company's issued share capital. .Sale was made in response to demand from investor looking to consolidate position as a significant long term investor in co.  Full Article

BRIEF-Shawbrook says Marlin Bidco cash offer for co declared unconditional

* Marlin Bidco Limited's cash offer for Shawbrook of 340 pence per share has been declared wholly unconditional Source text for Eikon: Further company coverage: (Bengaluru Newsroom)

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