OSB to buy back shares after posting record annual profit
The retail lender reported a 51% rise in underlying profit for 2021
Company
OSB Group PLC
LON:OSB
OSB Group PLC (formerly The OneSavings Bank group) is recognised as a specialist lender offering residential, buy to let and commercial mortgages, secured loans and development finance funded by a retail customer proposition based upon the provision of good value long and short term savings.
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OneSavings Bank price target raised by Barclays after first-half profit growth
The UK challenger bank saw a 62% jump in profit in the first half
OSB lending drops as bank tightens up after suspected fraud
“We continue to control volumes in our more cyclical product lines"
OSB Group makes £20mln provision to cover suspected fraudulent activity
The dividend is back and applications have now recovered to near pre-COVID levels in OSB's core Buy-to-Let and Residential sub-segments
OSB Group thinks suspected fraudulent activity is an isolated incident
The announcement of the company's full-year results has been delayed because it has recently become aware of "potential fraudulent activity" by one of its borrowers
One Savings, Paragon and Virgin Money are buys as major banks struggle, says broker
Specialist lenders are highly profitable despite having to hold punitive levels of capital
OneSavings Bank reports modest improvements in third quarter
The challenger bank promised to “assess at the end of the year whether circumstances support the payment of a dividend for 2020, taking into account the macroeconomic and capital outlook”
OneSavings Bank surges as loan book expands in first half despite pandemic impact
CEO Andy Golding also said the lender had been “encouraged” by a recovery in application volumes since the housing market reopened, running at around 60% of pre-lockdown levels
OneSavings Bank gives payment holidays equivalent to 27% of mortgage book
“We entered the crisis with exceptionally strong capital and liquidity positions which allowed us to rapidly assist those concerned about potential financial difficulty”
OneSavings Bank cancels final dividend payment amid coronavirus crisis
The payout would have been 11.2p per share, amounting to a saving of £49.9mln
OneSavings Bank downgraded to ‘hold’ by Peel Hunt over coronavirus uncertainty
However, analysts see the long-term potential of the challenger bank
OneSavings Bank confident enough to raise dividend but not issue guidance
Analysts at Shore Capital said the CET1 level was much better than expected, which “puts the group in a very strong position to weather the upcoming economic challenges”
OneSavings Bank posts flat profit after being hit by merger chargers
OSB said it now expects to deliver "high-teens" net loan book growth in 2019 at "attractive margins" due to a strong third quarter
One Savings Bank and Charter Court get merger green light
Shareholders in OSB ended up with 55% of the enlarged company following the all-share merger.
Tesco Bank and Nationwide highlight impact of competitive pressures on wider banking sector
First-quarter results from Lloyds, Barclays, Royal Bank of Scotland and HSBC all revealed a drop in net interest margins - a key profit measure for banks.
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FTSE 100 closes higher as US president talks up trade deal
The UK index of leading shares closed up around ten points at 7,271, while the FTSE 250 added 66 points at 19,531
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ITV to take spotlight on Wednesday as updates arrive from several blue-chip firms
Tobacco firm Imperial Brands and insurer Direct Line are also scheduled to report at the mid-point of the week
CYBG easier as Investec cuts to ‘hold’ from ‘buy’, with shares having rallied strongly since late December
"For the patient investor, we think CYBG offers further upside potential, but after a 26% return since 27 December, on a 12-month view, we see better value elsewhere," Investec's analysts said in a note
OneSavings Bank and Charter Court Financial Services agree merger and post 2018 profit growth
The challenger banks confirmed the merger alongside their results for the 2018 financial year
OneSavings Bank and Charter Court Financial Services confirm £1.6bn merger talks
OneSavingsBank and Charter Court Financial Services said a merger would create a specialised mortgage lender with greater scale and resources to take advantage of growth opportunities