OSB Osb Group Plc

 
TIDMOSB 
 
 
   LEI: 213800WTQKOQI8ELD692 
 
   OneSavings Bank plc: Trading update 
 
   Published: 08.11.2018 
 
   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 2018 to date. 
 
   Highlights 
 
 
   -- Strong financial and operational performance has continued in the third 
      quarter. 
 
   -- Loan book growth of 16% for the nine months to 30 September 2018 with net 
      loans and advances growing by GBP1,175m to GBP8.5bn during the period (30 
      September 2017: GBP997m and GBP6.9bn, respectively). 
 
   -- Organic originations of GBP730m in the three months to 30 September 2018 
      (Q3 2017: GBP677m). 
 
   -- Our InterBay Commercial and bridging businesses continue to perform well 
      and our newly-launched InterBay Asset Finance business funded its first 
      deals in October 2018. 
 
   -- We expect net loan book growth of c.20% for the full year in 2018. Other 
      full year guidance remains unchanged with NIM of c.3% and cost to income 
      ratio of c.30%. 
 
 
   Andy Golding, CEO of OneSavings Bank, said: 
 
   "I am delighted with the continued strong performance of the Bank. We 
delivered 16% net loan growth in the first nine months of the year and 
entered the fourth quarter with a strong pipeline, enabling us to 
increase our full year guidance for net loan book growth to c.20%. 
 
   Our lending and retail savings franchises continue to perform very well. 
Current levels of applications in our core Buy-to-Let and commercial 
businesses remain strong and we are building a robust pipeline for Q1 
2019. 
 
   We recognise the current uncertain macroeconomic outlook. However, our 
strong balance sheet with sensible LTVs and affordability testing, our 
strong capital position and robust stress tests, which include a number 
of Brexit scenarios, give us confidence in our business going forward." 
 
   Enquiries: 
 
   OneSavings Bank plc 
 
   Alastair Pate t: 01634 838 973 
 
   Brunswick Group 
 
   Robin Wrench / Simone Selzer t: 020 7404 5959 
 
   Financial calendar for 2019 
 
 
 
 
14 March 2019    2018 year end results 
8 May 2019       Q1 Trading update 
9 May 2019       AGM 
22 August 2019   2019 half year results 
7 November 2019  Q3 Trading update 
 
 
   About OneSavings Bank plc 
 
   OneSavings Bank plc ('OSB') began trading as a bank on 1 February 2011 
and was admitted to the main market of the London Stock Exchange in June 
2014 (OSB.L). OSB joined the FTSE 250 index in June 2015. 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 primarily targets market sub-sectors that offer high growth 
potential and attractive risk-adjusted returns in which it can take a 
leading position and where it has established expertise, platforms and 
capabilities. These include private rented sector Buy-to-Let, commercial 
and semi-commercial mortgages, residential development finance, bespoke 
and specialist residential lending and secured funding lines. OSB 
originates organically through specialist brokers and independent 
financial advisers. It is differentiated through its use of highly 
skilled, bespoke underwriting and efficient operating model. 
 
   OSB is predominantly funded by retail savings originated through the 
long-established Kent Reliance name, which includes online and postal 
channels, as well as a network of branches in the South East of England. 
Diversification of funding is currently provided by access to a 
securitisation programme and the Term Funding Scheme. 
 
   Important disclaimer 
 
   This document should be read in conjunction with the documents 
distributed by OneSavings Bank plc ('OSB') through the Regulatory News 
Service ('RNS'). This document contains certain forward-looking 
statements, beliefs or opinions, including statements with respect to 
the business, strategy and plans of OSB and its current goals and 
expectations relating to its future financial condition, performance and 
results. Such forward-looking statements include, without limitation, 
those preceded by, followed by or that include the words 'targets', 
'believes', 'estimates', 'expects', 'aims', 'intends', 'will', 'may', 
'anticipates', 'projects', 'plans', 'forecasts', 'outlook', 'likely', 
'guidance', 'trends', 'future', 'would', 'could', 'should' or similar 
expressions or negatives thereof. Statements that are not historical 
facts, including statements about OSB's, its directors' and/or 
management's beliefs and expectations, are forward-looking statements. 
By their nature, forward-looking statements involve risk and uncertainty 
because they relate to events and depend upon circumstances that may or 
may not occur in the future. Factors that could cause actual business, 
strategy, plans and/or results (including but not limited to the payment 
of dividends) to differ materially from the plans, objectives, 
expectations, estimates and intentions expressed in such forward-looking 
statements made by OSB or on its behalf include, but are not limited to: 
general economic and business conditions in the UK and internationally; 
market related trends and developments; fluctuations in exchange rates, 
stock markets, inflation, deflation, interest rates and currencies; 
policies of the Bank of England, the European Central Bank and other G8 
central banks; the ability to access sufficient sources of capital, 
liquidity and funding when required; changes to OSB's credit ratings; 
the ability to derive cost savings; changing demographic developments, 
and changing customer behaviour, including consumer spending, saving and 
borrowing habits; changes in customer preferences; changes to borrower 
or counterparty credit quality; instability in the global financial 
markets, including Eurozone instability, the potential for countries to 
exit the European Union (the "EU") or the Eurozone, and the impact of 
any sovereign credit rating downgrade or other sovereign financial 
issues; technological changes and risks to cyber security; natural and 
other disasters, adverse weather and similar contingencies outside OSB's 
control; inadequate or failed internal or external processes, people and 
systems; terrorist acts and other acts of war or hostility and responses 
to those acts; geopolitical, pandemic or other such events; changes in 
laws, regulations, taxation, accounting standards or practices, 
including as a result of an exit by the UK from the EU; regulatory 
capital or liquidity requirements and similar contingencies outside 
OSB's control; the policies and actions of governmental or regulatory 
authorities in the UK, the EU or elsewhere including the implementation 
and interpretation of key legislation and regulation; the ability to 
attract and retain senior management and other employees; the extent of 
any future impairment charges or write-downs caused by, but not limited 
to, depressed asset valuations, market disruptions and illiquid markets; 
market relating trends and developments; exposure to regulatory scrutiny, 
legal proceedings, regulatory investigations or complaints; changes in 
competition and pricing environments; the inability to hedge certain 
risks economically; the adequacy of loss reserves; the actions of 
competitors, including non-bank financial services and lending 
companies; and the success of OSB in managing the risks of the 
foregoing. 
 
   No representation, warranty or assurance is made that any of these 
statements or forecasts will come to pass or that any forecast results 
will be achieved.  Any forward-looking statements made in this document 
speak only as of the date they are made and it should not be assumed 
that they have been revised or updated in the light of new information 
of future events. Except as required by the Prudential Regulation 
Authority, the Financial Conduct Authority, the London Stock Exchange 
PLC or applicable law, OSB expressly disclaims any obligation or 
undertaking to release publicly any updates or revisions to any 
forward-looking statements contained in this document to reflect any 
change in OSB's expectations with regard thereto or any change in events, 
conditions or circumstances on which any such statement is based. For 
additional information on possible risks to OSB's business, please see 
the "Risk Review" section of the OSB 2017 Annual Report and Accounts. 
Copies of this are available at www.osb.co.uk and on request from OSB. 
 
   The information, statements and opinions contained in this document and 
subsequent discussion do not constitute a public offer under any 
applicable law or an offer to sell any securities or financial 
instruments or any advice or recommendation with respect to such 
securities or financial instruments. Nothing in this document shall be 
construed as a profit forecast. 
 
   This announcement is distributed by West Corporation on behalf of West 
Corporation clients. 
 
   The issuer of this announcement warrants that they are solely 
responsible for the content, accuracy and originality of the information 
contained therein. 
 
   Source: OneSavings Bank plc via Globenewswire 
 
 
  http://www.osb.co.uk/ 
 

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