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.
