Our business model

Our purpose is to help our customers, colleagues and communities prosper.

Our resources and relationships

  • Brands and heritage - we have a family of specialist lending brands targeting selected sub-segments of the mortgage market which are underserved by large UK banking institutions. We have well-established savings franchises through Kent Reliance, with its 150-year heritage, and the Charter Savings Bank brand.
  • Employees - our team of highly skilled employees possess expertise and in-depth knowledge of the property, capital and savings markets, underwriting and risk assessment and customer management.
  • Infrastructure - we benefit from cost and efficiency advantages provided by our whollyowned subsidiary, OSB India, as well as credit expertise and mortgage administration services provided by CCFS.
  • Relationships with intermediaries and customers - Our strong and deep relationships with the mortgage intermediaries that distribute our products continue to win us industry recognition.
  • Capital strength - we have a strong CET1 ratio and the management capability to add capital through significant profitable loan book growth

What we do

Specialist lending business

  • Our key strengths: strong levels of mortgage origination, excellent loan performance, award-winning product propositions and strong relationships with intermediaries
  • Strategic priorities: be a leading specialist lender in our chosen market sub-segments, retain focus on our complementary underwriting platforms: OSB’s bespoke and manual approach and CCFS’ automated risk assessment platforms, further deepen relationships and distribution with intermediaries

Sophisticated funding platform

  • Our key strengths: stable savings funding via Kent Reliance and Charter Savings Bank brands, capital markets expertise with securitisation platforms allowing for programmatic issuance of high quality residential mortgage-backed securities (RMBS)
  • Strategic priorities: provide cost-efficient funding through a resilient and diversified funding platform to support our future growth, deliver consistently good value savings products to our customers and pursue sophisticated wholesale funding markets and efficient balance sheet management

Unique operating model

  • Our key strengths: OSB India: Best-in-class customer service, deep credit expertise and data analytics of CCFS and continued, disciplined cost management
  • Strategic priorities: continue to leverage our unique and cost-efficient operating model, leverage deep credit expertise and data analytics and maintain an efficient, scalable and resilient infrastructure

Outcomes and value creation1

  • For shareholders: Statutory basic EPS 42.8p, Dividend per share 14.5p
  • For customers: OSB savings customer NPS +67, OSB customer retention 93%
    CCFS savings customer NPS +72, CCFS customer retention 77%
  • For intermediaries: OSB broker NPS +49, CCFS broker NPS +54
  • For employees: Number of new colleagues who joined the Group in 2020: 222, Number of Group employees promoted in 2020: 127
  • For communities: Group sponsorship and donations: £516,000

1 All metrics as at 31 December 2020