OneSavings Bank ups profit and new lending

Ryan Bembridge

March 15, 2018

One Savings Bank increased its underlying pre-tax profit by 21% to £167.7m in 2017, up from £138.2m the year before.

It increased loan originations by 14% to £2.6bn over the period, up from £2.3bn in 2016.

Andy Golding, chief executive of OneSavings Bank, said: “Despite market sentiment linked to political and economic uncertainty going forward, we entered 2018 with a strong pipeline of new business in our core markets and intend to deploy our proven credit risk and operational competencies to expand our residential and commercial product offerings in 2018.”

OneSavings Bank brands include buy-to-let lender Kent Reliance, commercial lender InterBay and second charge lender Prestige.

The bank increased its loan book by 23% to £7.3bn in 2017, up from £5.9bn in 2016.

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