March 14, 2019 / 7:26 AM / 3 months ago

Challenger banks Charter Court, OneSavings agree to all-share merger

March 14 (Reuters) - OneSavings Bank Plc has agreed to merge with online mortgage bank Charter Court Financial in an all-share deal, the lender said on Thursday, giving it more heft as it takes on the bigger banks in Britain.

OneSavings also reported a 15 percent rise in full-year underlying pretax profit to 193.6 million pounds ($256.81 million), as it benefited from a focus on providing mortgage credit to bigger, professional landlords.

$1 = 0.7539 pounds Reporting by Noor Zainab Hussain and Samantha Machado in Bengaluru Editing by Saumyadeb Chakrabarty

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