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One Savings Bank predicts significant loan book growth

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  • 09/05/2018
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One Savings Bank predicts significant loan book growth
OneSavings Bank has predicted it will see “at least mid-teens” growth in its loan book this year.

The firm  has confirmed that its loan book grew by 5% in the first three months of the year, to a total of £7.7bn.

In a trading update issued to the stock market today the lender announced that organic originations in the quarter – at “attractive margins” – totalled £689m, up from £599m in the first quarter of last year.

OneSavings Bank also revealed that at the close of the Term Funding Scheme in Feburary, the group had a total drawing of £1.5bn.

It said that its business growth is being supported by “a strong capital position”.

Andy Golding, chief executive officer of OneSavings Bank, said: “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.”

The firm’s share price is up to 417.40p at the time of writing, from 409p at open.

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