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OneSavings loan book grows by 17%

By BFN News | 09:49 AM | Thursday 09 November, 2017

OneSavings Bank, the lending and retail savings group, grew it loan book by 17% in the nine months to 30 September, with net loans and advances growing by £997m to £6.9bn during the period. The group had a record quarter for organic originations in the three months to 30 September, totalling £677m compared with £510m a year earlier. To date the group has drawn a total of £1bn under the term funding scheme and drawings under the funding for lending scheme have been reduced to £92m. The company expects net loan book growth of around 20% for the full year, with NIM broadly flat to 2016 and the cost to income ratio broadly flat to the first half. Andy Golding, CEO of OneSavings Bank, said: "OSB has yet again delivered exceptional performance in the third quarter of 2017 with strong loan book growth and record levels of organic originations at attractive margins. "We have reinforced our position as a leading specialist lender in our target markets and I am pleased to report that following the new PRA underwriting rules that came into effect on 1 October 2017, application levels remain strong. "I am delighted with OSB's performance as we continue to focus on professional landlords and increase our market share. We now expect loan book growth of c.20% for the full year." At 9:49am: (LON:OSB) Onesavings Bank share price was -3.5p at 405.6p Story provided by

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