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OneSavings Bank sees growth in Q1

OneSavings Bank saw a loan book growth of 5% in the three months of 2019.

Net loans and advances grew by £448m to £9.4bn between January and March according to the bank’s latest trading update.

Organic originations reached £799m in the first three months of this year, which is a 16% year-on-year increase.

Andy Golding, chief executive of OneSavings Bank, said: “I am delighted with the performance that OneSavings Bank has achieved so far this year.

“Our lending and retail savings franchises remain strong and we have seen a good start to the year, with lending exceeding expectations.

“However, it is still early in the year, and given the continued uncertainty surrounding Brexit, there is no change in our outlook for 2019.”

OSB expects to publish its prospectus and circular in connection with the all-share combination with Charter Court Financial Services later today, following approval from the FCA.

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