March 16, 2017 / 9:46 AM / 4 months ago

BRIEF-OneSavings Bank FY underlying pre-tax profit up by 29 pct to 137.0 mln pounds

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March 16 (Reuters) - OneSavings Bank Plc:

* Says FY net interest margin (NIM) increased to 314bps (2015: 309bps)

* FY underlying profit before taxation up by 29 pct to 137.0 mln pounds

* FY gross originations up by 28 pct to 2.3 bln pounds

* FY net interest income 206.6 million pounds versus 169.8 million pounds year ago

* FY net loans and advances grew by 16 pct in 2016 to 5.9 bln pounds

* FY return on equity remained strong at 29 pct(2015: 32 pct)

* Expect to deliver net loan book growth in mid-teens in 2017

* Board is recommending a final dividend of 7.6 pence per share

* Have seen no material change in customer confidence or demand for loans in our core markets

* Expect to keep nim and cost to income ratio broadly flat to 2016

* Started 2017 with a fully loaded cet1 ratio of 13.3 pct

* Anticipate maintaining a cet1 ratio at a minimum of 12 pct going forward

* Dividend policy for 2017 remains a pay-out ratio of at least 25 pct of underlying profit after taxation Source text for Eikon: Further company coverage: (Bangalore.newsroom@thomsonreuters.com)

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