Kent Reliance Provident Society: Difference between revisions
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| subsid =[[OneSavings_Bank|OneSavings Bank Plc]] (59.9% [[share]]) |
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| homepage = http://www.krps.com |
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'''Kent Reliance Provident Society''' '''(KRPS)''' is an [[Industrial and Provident Society]] in the [[United Kingdom]]. KRPS currently holds the majority of shares in [[OneSavings Bank Plc |
'''Kent Reliance Provident Society''' '''(KRPS)''' is an [[Industrial and Provident Society]] in the [[United Kingdom]]. KRPS currently holds the majority of shares in [[OneSavings_Bank|OneSavings Bank Plc]]<ref>{{cite web|title=Kent Online:Kent Reliance Building Society to become a bank|url=http://www.kentonline.co.uk/kentonline/news/2010/november/19/kent_reliance_building_society.aspx}}</ref> following the transfer of the [[Kent Reliance Building Society]] business to OneSavings Plc on 1 February 2011 and the subsequent renaming of OneSavings to OneSavings Bank Plc. <ref> {{cite web| url=http://www.krps.com/introduction.htm|title= KRPS:Indroduction}}</ref> The remaining shares in OneSavings Bank Plc are owned by the [[private equity firm]] [[JC Flowers]]. The transfer was narrowly approved by 75.8% of Kent Reliance Building Society's investing members <ref>{{cite web|title=Wikipedia: OneSavings|url=http://en.wikipedia.org/wiki/OneSavings}}</ref>, compared to the 75% required to approve it. |
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KRPS claims on its website that "...it is in the members' best interests to retain a structure that can allow for continued mutuality (through KRPS), rather than bring about an outright demutualisation [of KRBS]."<ref> {{cite web| url=http://www.krps.com/yourquestions.htm|title=KRPS:Your Questions}} </ref> ,however, this could change in the future if KRPS reduces its stake in OneSavings Bank.<ref> {{cite web| url=http://www.bbc.co.uk/news/business-10849892|title=BBC News: Kent Reliance Building Society unveils banking plan}} </ref> |
KRPS claims on its website that "...it is in the members' best interests to retain a structure that can allow for continued mutuality (through KRPS), rather than bring about an outright demutualisation [of KRBS]."<ref> {{cite web| url=http://www.krps.com/yourquestions.htm|title=KRPS:Your Questions}} </ref> ,however, this could change in the future if KRPS reduces its stake in OneSavings Bank.<ref> {{cite web| url=http://www.bbc.co.uk/news/business-10849892|title=BBC News: Kent Reliance Building Society unveils banking plan}} </ref> |
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Revision as of 20:55, 3 February 2011
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| Company type | Mutual |
|---|---|
| Industry | Financial services |
| Founded | 2011 |
| Headquarters | Chatham, Kent, United Kingdom |
Key people | Malcom McCaig |
| Subsidiaries | OneSavings Bank Plc (59.9% share) |
| Website | http://www.krps.com |
Kent Reliance Provident Society (KRPS) is an Industrial and Provident Society in the United Kingdom. KRPS currently holds the majority of shares in OneSavings Bank Plc[1] following the transfer of the Kent Reliance Building Society business to OneSavings Plc on 1 February 2011 and the subsequent renaming of OneSavings to OneSavings Bank Plc. [2] The remaining shares in OneSavings Bank Plc are owned by the private equity firm JC Flowers. The transfer was narrowly approved by 75.8% of Kent Reliance Building Society's investing members [3], compared to the 75% required to approve it. KRPS claims on its website that "...it is in the members' best interests to retain a structure that can allow for continued mutuality (through KRPS), rather than bring about an outright demutualisation [of KRBS]."[4] ,however, this could change in the future if KRPS reduces its stake in OneSavings Bank.[5]
All members of the former Kent Reliance Building Society became members of KRPS on 1 February 2011. [6]
KRPS Rewards
KRPS Rewards is a discount club which is free to join for KRPS members.[7]
See Also
Kent Reliance Building Society
References
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