OneSavings Bank reports 5% loan book growth
By Jordan WilliamsOneSavings Bank has announced loan book growth of 5% for the first quarter of 2017
Section: mobile apps categories
In a trading update, the specialist lending and retail savings group revealed an organic origination figure of £599m for the same period and has drawn a total of £451m under the Term Funding Scheme.
The amount drawn under the Funding for Lending Scheme has been reduced to £525m.
Andy Golding, CEO of OneSavings Bank, said he was delighted with the performance of the business so far this year.
“We achieved £599m of organic origination at attractive margins during the first quarter, and enjoyed exceptionally strong levels of new mortgage applications, a trend that has continued into Q2.
“This further demonstrates the strength of our specialist capabilities, which line up directly with the continuing professionalisation of the buy-to-let market.
“We remain confident of achieving at least mid-teens net loan book growth in 2017".
In March, OneSavings Bank posted a 29% rise in underlying profits for 2016.
Keywords: OneSavings Bank, loan book, lending, specialist lending, mortgages, remortgages buy-to-let, Funding for Lending Scheme, Term Funding Scheme, originations, quarter report, Q1, mortgage applications