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DJ Hardman & Co Research: Arbuthnot Banking Group (ARBB): Mortgage portfolio acquisitions

 
 Hardman & Co Research 
Hardman & Co Research: Arbuthnot Banking Group (ARBB): Mortgage portfolio 
acquisitions 
 
03-Jul-2019 / 15:05 GMT/BST 
 
*Hardman & Co Research: Mortgage portfolio acquisitions* 
 
On 3 July, ABG announced the acquisition of two mortgage portfolios for GBP258m 
(GBP6m discount to book value). The overall yield on the portfolios is 3.6%, 
before accounting for the negotiated purchase discount effect. The credit 
profile is excellent (average loan to value sub-70% and 75% of the loans 
originated before 2008). 85% of the loans are owner-occupied, with the balance 
buy-to-let. The loans are of sufficient quality to be included in the pool of 
assets used by ABG as collateral for the Sterling Monetary Framework at the 
Bank of England, and so be included in its liquidity resources. ABG's record 
on such acquisitions has been good. We will review numbers with the results on 
17 July.Please click here for the full report: 
 
https://www.hardmanandco.com/research/corporate-research/mortgage-portfolio-ac 
quisitions/ [1] 
 
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835695 03-Jul-2019 
 
 
1: https://link.cockpit.eqs.com/cgi-bin/fncls.ssp?fn=redirect&url=9f949ea8ee91d05fc8b73f7659ab9ca6&application_id=835695&site_id=vwd&application_name=news 
2: https://link.cockpit.eqs.com/cgi-bin/fncls.ssp?fn=redirect&url=5a632f52f80bd372265e4041a743aa1c&application_id=835695&site_id=vwd&application_name=news 
 

(END) Dow Jones Newswires

July 03, 2019 10:05 ET (14:05 GMT)