Category / Press Releases

Trading update

03 May 2023

OSB GROUP PLC (OSBG or the Group), the specialist lending and retail savings group, today issues its trading update for the period from 1 January 2023 to date.

 

Highlights

 

1 Underlying loan book excludes the fair value uplift to CCFS’ loan book on acquisition and related acquisition adjustments.

 

Andy Golding, CEO of OSB Group, said:

“We have delivered a robust performance so far this year. Strong application volumes and a continued focus on customer retention in our core Buy-to-Let and Residential sub-segments delivered net loan book growth of 3% in the first quarter.

Whilst we remain mindful of the uncertain macroeconomic outlook, the growth so far this year and the current level of demand enable us to increase our full year guidance for underlying net loan book growth from c. 5% to c. 7% for 2023. The NIM and cost to income guidance remain unchanged.

We have recently reached the milestone of £20bn in retail deposits, demonstrating not only the attractiveness of our savings proposition, but also the strength of our retail funding platforms.

In April, we issued £250m of Tier 2 debt securities, marking further progress on our journey of optimising the Group’s capital composition.

The strength and resilience of our business model, our strong capital and liquidity position, secured loan book and proven risk management capabilities position us well to deliver attractive and sustainable returns across the cycle and I look to the future with confidence.”

 

Related articles

media center

Category / Press Releases

Landlords take action to invest for the long term

In a housing landscape marked by uncertainty and change, OSB Group reveals that landlords are taking action and continuing to invest in the future of the Private Rented Sector (PRS) and the tenants they serve. 

Continue reading
media center

Category / Press Releases

OSB Group strengthens broker support and service through key appointment changes

OSB Group, the specialist savings and lending bank has hit the ground running in 2024 by unveiling a new senior sales structure, designed to offer further support to intermediary broker partners across Precise Mortgages, Kent Reliance for Intermediaries and InterBay.

Continue reading
media center

Category / Press Releases

OSB Group issued its Q3 2023 trading update

On 2 November 2023 OSB Group issued Q3 trading update for the period from 1 July 2023 to 30 September 2023.

Continue reading