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OSB posts 5% loan book growth

Sam Monk | 11:21 Wednesday 15th May 2019

OneSavings Bank (OSB) has grown its loan book by 5% in the three months to 31st March 2019, according to its latest trading update.

The specialist bank saw net loans and advances increase by £448m to £9.4bn during Q1 2019, compared with figures of £368m and £7.7bn respectively for Q1 2018.

OSB also reported organic originations of £799m in the quarter (Q1 2018: £689m).

“Our lending and retail savings franchises remain strong and we have seen a good start to the year, with lending exceeding expectations,” said Andy Golding, CEO at OSB (pictured above).

“I am particularly pleased by the strong growth in our commercial and residential propositions. 

“However, it is still early in the year, and given the continued uncertainty surrounding Brexit, there is no change in our outlook for 2019.

“We continue to believe strongly in the rationale for creating a leading specialist lender in the UK through the proposed recommended combination with Charter Court Financial Services Group PLC (CCFS)."

This news follows the recent merger talks between Charter Court and OSB, which saw them reach an agreement on the terms of a recommended all-share combination.

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