OneSavings Bank increases loan book value

OneSavings Bank has increased its net loans and advances for the first nine months of the year.

The FTSE 250 lending and retail savings group issued a trading update for the period since 1 July on Wednesday.

The bank said net loans and advances grew £986m to £4.9bn, driven by strong organic growth, and it expects full year growth to be ahead of its 29% growth last year.

It also noted margins on £548m of new organic business in the third quarter remained strong and OneSavings expect the full year net interest margin to be slightly ahead of the 305bps delivered in the first half of the year.

The statement also highlighted that business growth continues to be supported by a robust capital position.

OneSavings Bank chief executive Andy Golding is very pleased with the performance to date.

"We received record levels of new business applications during the third quarter and remain confident in delivering on all of our stated financial objectives through to the end of 2016."