
OneSavings Bank (OSB) has announced that it achieved loan book growth of 15% in the nine months to 30th September 2019.
Charter Court Financial Services (CCFS) achieved loan book growth of 4% in the same period.
The recommended all share combination between OSB and Charter Court Financial Services Group PLC (CCFS) was completed on 4th October 2019.
Other highlights from the trading update included:
- OSB recorded £842m of new originations in the three months to 30th September 2019 (Q3 2018: £730m) and £2.5bn for the nine months to 30th September (Q1 to Q3 2018: £2.2bn)
- CCFS managed to achieve new originations of £865m in the three months to 30th September 2019 (Q3 2018: £708m) and £2.4bn for the nine months to 30th September (Q1 to Q3 2018: £2.1bn)
- OSB is expecting net interest margin (NIM) to be broadly flat for the full year compared with the first half
- CCFS revealed that residual interests in three securitisations sold for a pre-tax gain of £58.6m in the nine months to 30th September 2019 — this resulted in the derecognition of around £1.3bn of underlying mortgage assets and associated risk-weighted assets
“I am delighted that we successfully completed our combination with CCFS Group on 4th October and we are now in the early stages of integrating the two businesses,” said Andy Golding, CEO at OSB (pictured above).
“We remain focused on delivering shareholder value as we execute on the strategy for the enlarged group.”
SIGN UP TO OUR NEWSLETTER TO RECEIVE MORE NEWS LIKE THIS STORY
-
Industry reacts to Conservatives winning majority
The Conservatives have successfully won a majority in the 2019 general election, taking 364 seats (with one constituency left to declare) and 43.6% of the vote...
-
Shawbrook appoints Deepak Parekh as senior director of Midlands regional business team
Shawbrook has recruited Deepak Parekh as senior director of its Midlands regional business centre team...
-
Metro Bank launches receipt management app beta trial with Sensibill
Metro Bank is collaborating with Canadian technology firm Sensibill on the beta launch of its app-based receipt management technology...
-
Wyelands Bank appoints board and executive team members
Wyelands Bank has appointed Stephen Rose (pictured above, left), as deputy chief executive officer, and Rachelle Frewer (right), as chief financial officer...
-
Koto set to launch in January with aim to replicate monobank success
Koto is set to launch in the UK in January next year offering fixed-fee lending via an app...
-
What does responsible lending look like?
Lending responsibly is about much more than a bank managing the risk to itself...
-
Starling Bank adds Sparqa Legal as first legal service partner
Starling Bank has added Sparqa Legal as its first legal service partner...
-
OakNorth Bank completes £750,000 deal with Bright Minds Daycare
OakNorth Bank has completed a £750,000 debt finance deal for independent Birmingham-based nursery group Bright Minds Daycare...
-
OakNorth Bank makes several senior hires and opens new Birmingham office
OakNorth Bank has opened an office in Birmingham to support businesses in the Midlands and recruited four new senior hires...
-
The identity challenge: how can banks know who’s who?
Technology has transformed the world of banking, bringing all manner of new services to the table and revolutionising the way that customers manage their finances...
-
Metro Bank reduces BTL fixed rates
Metro Bank has announced it is cutting its fixed buy-to-let (BTL) interest rates by 0.2% for borrowers up to 70% LTV...