Reuters logo
BRIEF-OneSavings Bank posts H1 underlying pretax profit of 78.4 million pounds
August 24, 2017 / 6:19 AM / a month ago

BRIEF-OneSavings Bank posts H1 underlying pretax profit of 78.4 million pounds

Aug 24 (Reuters) - ONESAVINGS BANK PLC:

* H1 UNDERLYING PRETAX PROFIT 78.4 MILLION POUNDS VERSUS 65.3 MILLION POUNDS IN H1 2016

* LOAN BOOK GROWTH OF 10%, DRIVEN BY 26% GROWTH IN GROSS ORGANIC ORIGINATION TO £1,229M (1H 2016: £973M)

* H1 NET INTEREST MARGIN (‘NIM’)(4) OF 322BPS (1H 2016: RESTATED(2) 309BPS)

* H1 LOAN LOSS RATIO(5) OF 4BPS (1H 2016: 18BPS)

* H1 FULLY-LOADED COMMON EQUITY TIER 1 (‘CET1’) CAPITAL RATIO STRENGTHENED TO 13.7% (FY 2016: 13.3%)

* H1 RETURN ON EQUITY(6 )OF 28% (1H 2016: 29%) DESPITE HIGHER AVERAGE CAPITAL LEVELS

* H1 INTERIM DIVIDEND OF 3.5P PER SHARE, UP 21% (1H 2016: 2.9P)

* FOCUS ON PROFESSIONAL LANDLORDS CONTINUES TO POSITION US WELL-CEO

* EXPECTED FURTHER SHIFT IN BUY-TO-LET ACTIVITY TOWARDS OUR TARGET MARKET

* EXPECT FULL YEAR NET LOAN BOOK GROWTH DRIVEN BY ORGANIC LENDING OF AT LEAST HIGH-TEENS

* EXPECT NIM BROADLY FLAT TO 2016 AND COST TO INCOME RATIO FOR FULL YEAR BROADLY FLAT TO FIRST HALF

* REMAIN CONFIDENT IN UNDERLYING STRENGTH OF PRIVATE RENTED SECTOR Source text for Eikon: Further company coverage: (Bangalore.newsroom@thomsonreuters.com)

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below