Category / Press Releases

Trading update

03 May 2023

OSB GROUP PLC (OSBG or the Group), the specialist lending and retail savings group, today issues its trading update for the period from 1 January 2023 to date.




1 Underlying loan book excludes the fair value uplift to CCFS’ loan book on acquisition and related acquisition adjustments.


Andy Golding, CEO of OSB Group, said:

“We have delivered a robust performance so far this year. Strong application volumes and a continued focus on customer retention in our core Buy-to-Let and Residential sub-segments delivered net loan book growth of 3% in the first quarter.

Whilst we remain mindful of the uncertain macroeconomic outlook, the growth so far this year and the current level of demand enable us to increase our full year guidance for underlying net loan book growth from c. 5% to c. 7% for 2023. The NIM and cost to income guidance remain unchanged.

We have recently reached the milestone of £20bn in retail deposits, demonstrating not only the attractiveness of our savings proposition, but also the strength of our retail funding platforms.

In April, we issued £250m of Tier 2 debt securities, marking further progress on our journey of optimising the Group’s capital composition.

The strength and resilience of our business model, our strong capital and liquidity position, secured loan book and proven risk management capabilities position us well to deliver attractive and sustainable returns across the cycle and I look to the future with confidence.”


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