The specialist lending and retail savings group has released its trading update for Q1 2023, which revealed that organic originations stood at £1.2bn, up from £1.1bn in the same period last year.

Underlying and statuary net loans and advances also saw an increase of 3% to £24.2bn in the first quarter.

At the end of April, the group repurchased £20.1m worth of shares under the £150m share repurchase programme.

Andy Golding, CEO at OSB Group (pictured above), said: “We have delivered a robust performance so far this year.

•   What does the specialist finance industry need in 2023 and beyond?
•   InterBay lends £24.9m to Kexgill Group to refinance student property portfolio
•   OSB Group appoints new central BDM

“Strong application volumes and a continued focus on customer retention in our core BTL and residential sub-segments delivered net loan book growth of 3% in the first quarter.

“While 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 circa 5% to circa 7% for 2023.

“The NIM and cost-to-income guidance remain unchanged.”

The business recently reached £20bn in retail deposits.