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Portman BS pledges to develop Sun Bank

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  • 17/10/2001
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The Portman Building Society has agreed to acquire Sun Bank in a £95m deal. The acquisition which is...

The Portman Building Society has agreed to acquire Sun Bank in a £95m deal. The acquisition which is subject to regulatory approval will enable Portman to enter new areas of the market using the Sun Bank brand. Robert Sharpe, chief executive at Portman, said: ‘The addition of an established, profitable and well managed bank operating with modern technology will add value to the Portman Group from day one. We intend to develop Sun Bank as a distinct organisation, retaining its own brand, premises and people.’

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