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UK's OneSavings Bank reports 15.7 pct rise in 2016 loan book
March 16, 2017 / 7:28 AM / 9 months ago

UK's OneSavings Bank reports 15.7 pct rise in 2016 loan book

March 16 (Reuters) - OneSavings Bank Plc reported a 15.7 percent growth in its loan book in 2016, and said it expected net loan book growth in the mid-teens this year.

“The UK economy has remained resilient in the face of the uncertainty and we have seen no material change in customer confidence or demand for loans in our core markets,” the lender said.

The bank said in August that it had increased its focus on professional landlords and tightened lending criteria for financing smaller residential developments after Britain voted to leave the European Union.

OneSavings, one of the banks aiming to challenge Britain’s “Big 5” lenders, said net loans and advances grew to 5.9 billion pounds ($7.25 billion) in the year ended Dec. 31 from 5.1 billion pounds in 2015.

$1 = 0.8140 pounds Reporting by Arathy S Nair in Bengaluru; Editing by Amrutha Gayathri

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