Why the City can’t stop talking about OSB  

OSB Group has a new boss, but chatter in the City and deal speculation persists. Samuel Norman takes a look at one of Britain s lesser-known lenders and what could be around the corner. Few financial institutions crop up more in discussions with fee-hungry deals advisers than Onesavings Bank. It’s a firm lesser-known in households across the UK and instead recognised by its plethora of brands, including savings provider Kent Reliance, buy-to-let mortgages firm Precise Mortgages and corporate financing unit Interbay Asset Finance.  But in the City, dealmakers look at OSB and their eyes light up. “OSB is very much talked about,” one top lawyer says, recounting conversations with rivals. Another labels the chatter as “relentless”. “A broken clock will eventually be right,” one senior banker says of the talk of an OSB takeover. They add the opportunity of a deal was “purely financial”. A senior industry executive echoes this: “It’s not strategic, it’s a bolt on deal.”