May 15, 2019 / 6:26 AM / 5 months ago

Banks OneSavings, Charter Court report bigger loan book ahead of merger

May 15 (Reuters) - OneSavings Bank Plc, set to create one of Britain’s biggest specialist lenders in a merger with Charter Court Financial Services Group Plc, reported a bigger loan book for the first three months of the year, but said it had seen marginal margin dilution.

Loan book rose 5% for the three months ending March 31 with net loans and advances growing by 448 million pounds ($578.23 million) to 9.4 billion pounds, boosted by commercial and residential lending.

Charter Court and OneSavings announced their intention to merge in March, in a merger that will bolster their defences in the face of uncertainty brought on by Brexit.

“It is still early in the year, and given the continued uncertainty surrounding Brexit, there is no change in our outlook for 2019,” OneSavings Chief Exective Officer Andy Golding said.

Separately, Charter Court reported a 17.9% rise in its loan book to 6.5 billion pounds for the quarter ended March 31.

$1 = 0.7748 pounds Reporting by Noor Zainab Hussain and Pushkala Aripaka in Bengaluru; Editing by Shounak Dasgupta

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