ONE Savings Bank PLC : Trading Statement <Origin Href="QuoteRef">OSBO.L</Origin>

OsbAnnouncement

04/11/2015 07:00

OneSavings Bank plc: Trading update 
 
 Published: 04.11.2015 07:00:00 GMT 
 
 OneSavings Bank plc 
 
 Trading update 
 
             
 
 OneSavings Bank plc ('OSB'), the specialist lending and retail savings group,
today issues its trading update for the period from the 1 st July 2015 to
date.  
 
 Highlights 
 
* Continued strong financial and operational performance. 
   
* Net loans & advances grew £986m for the first 9 months to £4.9bn, driven
by further strong organic origination, leading to a continued expectation for
full year growth to be a few percentage points ahead of the 29% delivered in
2014. 
 
 
* Margins on £548m of new organic origination in the third quarter remained
strong and we continue to expect full year net interest margin to be slightly
ahead of the 305bps delivered in the first half of 2015. 
   
* Cost:income ratio remains very strong.  As previously guided the full year
ratio is expected to be very slightly higher than the 26% seen in the first
half of 2015 due to the impact of planned infrastructure investment in the
second half of the year. 
 
 
* Business growth continues to be supported by a robust capital position. 

 
 Andy Golding, CEO of OneSavings Bank, said: 
 
 "I am very pleased with our 2015 performance to date.  We received record
levels of new business applications during the third quarter and remain
confident in delivering on all of our stated financial objectives through to
the end of 2016." 
 
 Enquiries: 
 
 OneSavings Bank plc 
 
 Alastair Pate t: 01634 838 973 
 
 Brunswick Group 
 
 Robin Wrench / Simone Selzer t: 020 7404 5959 
 
 About OneSavings Bank plc 
 
 OneSavings Bank plc ('OSB') began trading as a bank on 1 February 2011 when
the trade and assets of Kent Reliance Building Society ('KRBS') were
transferred into the business. OSB is a specialist lending and retail savings
group authorised by the Prudential Regulation Authority, part of the Bank of
England, and regulated by the Financial Conduct Authority and Prudential
Regulation Authority. 
 
 OSB focuses on selected sub-sectors of the lending market in which it has
established expertise, platforms and capabilities, and where opportunities
have been identified for both high returns on a risk adjusted basis and strong
growth. These include Residential Mortgages (comprising first charge, second
charge and shared ownership), Buy-to-Let/SME and Personal Loans. OSB
originates organically through specialist brokers and independent financial
advisors. 
 
 OSB is predominantly funded by retail savings originated through the
established Kent Reliance franchise, which includes a network of branches in
the South East of England, as well as online and postal channels.
Diversification of funding is currently provided by a securitisation and OSB
joined the Funding for Lending Scheme in early 2014. 
 

 This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf
of NASDAQ OMX Corporate Solutions clients. 
 The issuer of this announcement warrants that they are solely responsible for
the content, accuracy and originality of the information contained therein. 
 Source: ONE Savings Bank PLC via Globenewswire 
 HUG#1963784