Scarborough Building Society has explained that the acquisition of a new offshore deposit-taking company should benefit its existing clientele, banking customers may be interested to hear.
This week, the financial services provider confirmed the takeover of Portman Channel Islands and revealed that it now wishes the business to be known as Scarborough Channel Islands.
It is claimed that the newly-renamed institution can boast a deposit book worth approximately £600 million and 6,000 existing customers - who will shortly be notified about the change in ownership.
Meanwhile, John Carrier, chief executive of Scarborough Building Society, said that launching innovative products and developing new markets will be a cornerstone of its future approach in the new sector.
"The acquisition adds a significant additional stand to our already diverse business model and will further enhance the success and profitability of our group, which will benefit customers and members alike," he commented.
At present, the building society offers a host of financial services products to its customers.
In addition to mortgages, the institution also provides credit cards, personal loans and insurance cover.
Scarborough Building Society comments on banking acquisition
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Scarborough Building Society comments on banking acquisition
Mon, 23 Apr 2007
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