OneSavings Bank reveal half-year results
OneSavings Bank has released its interim half year report.
Underlying profit before tax saw a yearly increase of 6% along with a net loan book growth of 10%.
Their return on equity declined by 3% to 23% whilst their interim dividend of 4.9p per share increased by 14% year-on-year.
Andy Golding, group chief executive at OneSavings Bank said of the results: “I am delighted that OneSavings Bank has delivered strong performance in the first half of 2019.
“Lending volumes were driven by 13% growth in organic originations with high demand across our core market segments.
“We saw good opportunities in the professional buy-to-let segment and our more specialist businesses, including InterBay Commercial and bespoke residential, flourished in the first six months of the year.
“This supported 6% growth in underlying profit before tax to £96.9m and a strong return on equity of 23%.
“Our core market segments remain attractive and we have confidence in continuing to deliver growth in our net loan book.
“Despite ongoing uncertainty surrounding Brexit, given the growth already achieved this year and considering the current strong pipeline and application levels in the third quarter to date, we now expect to deliver high-teens net loan book growth in 2019 at attractive margins.
“We continue to invest in the business and we will maintain a strong focus on cost efficiency and control.”