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Monday, May 21, 2018

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OSB loan book reaches £7.7bn

Tom Belger | 12:15 Wednesday 9th May 2018

OneSavings Bank PLC (OSB) has reported loan book growth of 5% for the first three months of 2018.

The specialist bank revealed that net loans and advances grew by £368m to £7.7bn during the quarter.

OSB recorded organic originations of £689m in Q1 2018, up from the £599m reported in Q1 2017.

Andy Golding, CEO at OSB (pictured above), said he was delighted with the performance of the business so far this year.

“Strong levels of applications led to the net loan book growing to £7.7bn in the first quarter with new lending at attractive margins.

“Our lending and retail savings franchises remain strong, and given current levels of applications in our core buy-to-let and commercial businesses, we are confident that we can deliver at least mid-teens net loan book growth this year.

“There is no change to other guidance for 2018.”

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