Edition:
United Kingdom

OneSavings Bank PLC (OSBO.L)

OSBO.L on London Stock Exchange

341.60GBp
23 Aug 2019
Change (% chg)

-- (--)
Prev Close
341.60
Open
--
Day's High
--
Day's Low
--
Volume
--
Avg. Vol
493,351
52-wk High
458.80
52-wk Low
321.97

Latest Key Developments (Source: Significant Developments)

Lender Charter Court Says No Deal Brexit Could Increase Credit Losses
Wednesday, 21 Aug 2019 

Aug 21 (Reuters) - Charter Court Financial Services Group PLC ::ANOTHER STRONG HALF YEAR OF ORIGINATIONS.COMBINATION WITH ONESAVINGS BANK APPROVED BY SHAREHOLDERS.HY PROFIT BEFORE TAX OF £82.6 MILLION (H1 2018: £93.1 MILLION)..LOAN BOOK UP 23.8% YEAR-ON-YEAR TO £7.0 BILLION AT 30 JUNE 2019 (30 JUNE 2018: £5.7 BILLION, 31 DECEMBER 2018: £6.7 BILLION.HY ADJUSTED PROFIT BEFORE TAX £86.4M VERSUS £93.1M.HY NET INTEREST MARGIN 3.04% VERSUS 3.08%.HY CET1 RATIO 15.6% VERSUS 16.6%.HY RETURN ON EQUITY 26.5% VERSUS 38.4%.HY DIVIDEND PER SHARE 4.3P VERSUS 2.8P.DELIVERED AGAINST ALL OUR TARGETS IN FIRST HALF OF 2019.DESPITE HEIGHTENED UNCERTAINTY IN WIDER ECONOMY, WE CONTINUE TO SEE ROBUST DEMAND FOR OUR SPECIALIST LENDING PROPOSITIONS.CONSCIOUS THAT OUR KEY SUPPLIERS AND OUTSOURCE PARTNERS MAY BE AFFECTED BY BREXIT.GIVEN INHERENT MATERIAL UNCERTAINTY OF BREXIT A CAUTIOUS BUT PRAGMATIC APPROACH HAS BEEN ADOPTED.THERE IS MORE LIKELIHOOD OF A 'NO DEAL' BREXIT WHICH BRINGS ECONOMIC UNCERTAINTY AND POTENTIALLY INCREASED CREDIT LOSSES.ONGOING UNCERTAINTY AROUND BREXIT HAS CONTINUED TO HAMPER UK RMBS, WITH SPREADS TRACKING RELATIVELY WIDE.BREXIT DECISION CONTINUES TO BE MONITORED BY MANAGEMENT AND AT 30 JUNE 2019 THE BREXIT OVERLAY HAS BEEN INCREASED TO £1.9 MILLION‍​.  Full Article

OneSavings Sees High-Teens 2019 Net Loan Book Growth, Housing Market Pressured By Brexit
Wednesday, 21 Aug 2019 

Aug 21 (Reuters) - OneSavings Bank PLC ::REG-HALF-YEAR REPORT.OUR CORE MARKET SEGMENTS REMAIN ATTRACTIVE AND WE HAVE CONFIDENCE IN CONTINUING TO DELIVER GROWTH IN OUR NET LOAN BOOK.INTERIM DIVIDEND OF 4.9P PER SHARE, UP 14%.HY UNDERLYING PROFIT BEFORE TAX(1) INCREASED 6% TO £96.9M (H1 2018: £91.8M).HY STATUTORY PROFIT BEFORE TAX REMAINED BROADLY FLAT AT £91.0M (H1 2018: £91.8M).HY NET LOAN BOOK GROWTH OF 10%, DRIVEN BY 13% GROWTH IN GROSS ORGANIC ORIGINATION TO £1,635M (H1 2018: £1,444M).HY COST TO INCOME RATIO(2) OF 28% (H1 2018: 27%).HY NET INTEREST MARGIN ('NIM')(3) OF 278BPS (H1 2018: 301BPS).HY LOAN LOSS RATIO(4) OF 12BPS (H1 2018: 11BPS).HY FULLY-LOADED COMMON EQUITY TIER 1 ('CET1') CAPITAL RATIO STRONG AT 13.0% (FY 2018: 13.3%).INTERIM DIVIDEND OF 4.9P PER SHARE, UP 14% (H1 2018: 4.3P)(.SAW GOOD OPPORTUNITIES IN PROFESSIONAL BUY-TO-LET SEGMENT.NIM DECREASED IN FIRST HALF, PRIMARILY DUE TO CHANGING MIX OF LOAN BOOK DESPITE BROADLY STABLE ASSET PRICING.NOW EXPECT TO DELIVER HIGH-TEENS NET LOAN BOOK GROWTH IN 2019 AT ATTRACTIVE MARGINS.AS A CONSEQUENCE OF COMBINATION WITH CHARTER COURT WE ARE UNABLE TO PROVIDE DETAILED GUIDANCE FOR FINANCIAL YEAR AHEAD.WAS NO MATERIAL CHANGE IN SEVERITY OR PROBABILITY WEIGHTINGS ASSIGNED TO GROUP'S MACROECONOMIC SCENARIOS IN FIRST HALF OF 2019.BANK'S PROVISIONS UNDER IFRS 9 ARE PARTICULARLY SENSITIVE TO WEIGHTING APPLIED TO MORE SEVERE DISORDERLY NO-DEAL BREXIT SCENARIO.  Full Article

Onesavings Charter Recommends All-Share Merger Of Co And Charter Court Financial
Thursday, 14 Mar 2019 

March 14 (Reuters) - OneSavings Bank PLC ::ONESAVINGS CHARTER COURT FIN - RECOMMENDED ALL-SHARE COMBINATION OF OSB AND CCFS.ONESAVINGS CHARTER COURT FIN - RECOMMENDED ALL-SHARE COMBINATION OF OSB AND CCFS.ONESAVINGS BANK PLC - EACH CHARTER COURT SHAREHOLDER WILL BE ENTITLED TO RECEIVE: FOR EACH CHARTER COURT SHARE: 0.8253 NEW OSB SHARES.ONESAVINGS BANK - IMMEDIATELY FOLLOWING COMPLETION, CHARTER COURT SHAREHOLDERS WILL OWN APPROXIMATELY 45 PER CENT. OF SHARE CAPITAL OF COMBINED GROUP.ONESAVINGS - BELIEVES DEAL WITH CHARTER COURT WILL RESULT IN £22 MILLION PRE-TAX COST SYNERGIES ON ANNUAL RUN-RATE BASIS BY 3RD YEAR OF DEAL CLOSE.ONESAVINGS BANK - ANDY GOLDING & APRIL TALINTYRE, CEO & CFO OF CO RESPECTIVELY, TO RETAIN THEIR POSITIONS OF CEO & CFO RESPECTIVELY IN COMBINED GROUP.ONESAVINGS - DEAL ANTICIPATED TO BE EARNINGS ACCRETIVE FOR SHAREHOLDERS OF BOTH OSB AND CHARTER COURT IN 2021 (EX. ADDITIONAL FINANCING COSTS).ONESAVINGS BANK - SEBASTIEN MALONEY, CURRENTLY CFO OF CHARTER COURT, WILL BE RETAINED AS AN ADVISER TO COMBINED GROUP FOR A PERIOD OF UP TO 12 MONTHS.ONESAVINGS BANK PLC - IAN LONERGAN, CURRENTLY CEO OF CHARTER COURT, WILL ASSUME ROLE OF INTEGRATION DIRECTOR OF COMBINED GROUP.ONESAVINGS - UPON DEAL CLOSE, CO INTENDS THAT COMBINED GROUP WILL MAINTAIN CURRENT LOCATIONS AND BE HEADQUARTERED IN CHATHAM, UK.ONESAVINGS BANK - COMBINED GROUP TO ADOPT POLICY OF PAYING OUT AT LEAST 25% OF UNDERLYING PROFIT AFTER TAXATION ATTRIBUTABLE TO ORDINARY SHAREHOLDERS.  Full Article

Charter Court Financial FY Pretax Profit 158.2 Mln stg Vs 111.7 Mln stg
Thursday, 14 Mar 2019 

March 14 (Reuters) - Charter Court Financial Services Group PLC ::CHARTER COURT FINANCIAL SERVICES GROUP PLC - FY PROFIT BEFORE TAX £158.2M VERSUS £111.7M.CHARTER COURT FINANCIAL SERVICES GROUP PLC - FY NET INTEREST MARGIN 3.08% VERSUS 3.19%.CHARTER COURT FINANCIAL SERVICES GROUP PLC - 24.2% LOAN BOOK GROWTH (2017: 40.9%) FOR FY.CHARTER COURT FINANCIAL SERVICES GROUP PLC - BOARD HAS INCREASED DIVIDEND PAY-OUT RATIO TO 25% OF RETAINED PROFIT FOR YEAR.CHARTER COURT FINANCIAL SERVICES GROUP PLC - INAUGURAL TOTAL DIVIDEND PER SHARE 12.7P FOR 2018.CHARTER COURT FINANCIAL SERVICES - CET1 RATIO AT FY-END 15.7% VERSUS 15.6%.CHARTER COURT FINANCIAL SERVICES GROUP PLC - FINAL DIVIDEND OF 9.9 PENCE PER SHARE MAKES AN INAUGURAL TOTAL DIVIDEND FOR 2018 OF 12.7 PENCE PER SHARE.CHARTER COURT FINANCIAL SERVICES GROUP PLC - HAS A ROBUST PIPELINE GOING INTO 2019 AND HAS MADE A POSITIVE START TO YEAR.CHARTER COURT - BOARDS OF CHARTER COURT AND ONESAVINGS BANK PLC EXPECT TO RECOMMEND POSSIBLE COMBINATION TO THEIR RESPECTIVE SHAREHOLDERS.  Full Article

Onesavings FY Underlying Pretax Profit Up 15 Pct To 193.6 Mln stg
Thursday, 14 Mar 2019 

March 14 (Reuters) - OneSavings Bank PLC ::ONESAVINGS - PRELIMINARY RESULTS FOR THE YEAR ENDED 31 DEC 2018.FY UNDERLYING PROFIT BEFORE TAX(1) INCREASED 15% TO £193.6M (2017: £167.7M).FY UNDERLYING PROFIT BEFORE TAX INCREASED 15% TO £193.6M (2017: £167.7M).WHILST ECONOMIC EFFECT OF BREXIT MAY IMPACT SOME BUSINESS OPPORTUNITIES, ONESAVINGS BANK IS POSITIONED WELL.FY LOAN BOOK GROWTH OF 23% TO £9.0BN (2017: £7.3BN).FY NET INTEREST MARGIN AT 304BPS (2017: 316BPS).RECOMMENDED FINAL DIVIDEND OF 10.3 PENCE PER SHARE GIVING A FULL YEAR DIVIDEND OF 14.6 PENCE PER SHARE.ONESAVINGS BANK SAYS CORE BUY-TO-LET SEGMENT CONTINUED TO GROW IN FY, ATTRACTING PROFESSIONAL LANDLORDS.NOT ABLE TO PROVIDE USUAL DETAILED GUIDANCE FOR FINANCIAL YEAR AHEAD.FY COMMON EQUITY TIER 1 ('CET1') CAPITAL RATIO OF 13.3% (2017: 13.7%).WE ARE TODAY PLEASED TO ANNOUNCE RECOMMENDED ALL-SHARE COMBINATION OF ONESAVINGS BANK AND CHARTER COURT FINANCIAL.ONESAVINGS BANK - DESPITE UNCERTAINTY SURROUNDING BREXIT, WE WOULD EXPECT TO DELIVER MID-TEENS NET LOAN BOOK GROWTH IN 2019.SEES 2019 NIM MARGINALLY LOWER THAN 2018.  Full Article

OneSavings Bank HY Pretax Profit Rises 17 Pct
Thursday, 23 Aug 2018 

Aug 23 (Reuters) - OneSavings Bank PLC ::HY PROFIT BEFORE TAX INCREASED 17% TO £91.8M.HY NET INTEREST MARGIN OF 301 BPS (H1 2017 RESTATED: 324BPS).HY NET LOAN BOOK GROWTH OF 11%, DRIVEN BY 17% GROWTH IN GROSS ORGANIC ORIGINATION TO £1,444M (H1 2017: £1,229M).NOW EXPECT TO DELIVER NET LOAN BOOK GROWTH OF HIGH-TEENS IN 2018.INTERIM DIVIDEND OF 4.3P PER SHARE, UP 23% (H1 2017: 3.5P).THERE WILL BE FURTHER PLANNED EXPENDITURE IN SECOND HALF OF YEAR.CONTINUE TO SEE OPPORTUNITIES TO GROW OUR BUSINESS AT ATTRACTIVE RETURNS.CONTINUE TO EXPECT THAT COST TO INCOME RATIO WILL BE C.30% FOR FULL YEAR.REGULATORY AND TAX CHANGES IN BUY-TO-LET MARKET HAVE DAMPENED INDUSTRY-WIDE DEMAND FOR NEW PURCHASE MORTGAGES.CO HAS BEGUN TO TEST ENTRY INTO UK ASSET FINANCE MARKET, AND ANTICIPATE FUNDING FIRST TRANSACTIONS LATER THIS YEAR.  Full Article

JC Flowers sells 10 percent of OneSavings Bank shares ​
Tuesday, 9 Jan 2018 

Jan 9 (Reuters) - Onesavings Bank Plc ::‍ACCELERATED BOOKBUILD OFFERING TO INSTITUTIONAL INVESTORS OF APPROXIMATELY 24.3 MILLION EXISTING ORDINARY SHARES IN ONESAVINGS BANK PLC ON BEHALF OF FUNDS MANAGED AND ADVISED BY J.C. FLOWERS & CO. LLC ​.TRANSACTION REPRESENTS APPROXIMATELY 10 PERCENT OF BANK'S ISSUED SHARE CAPITAL‍​.‍IN PARALLEL WITH BOOKBUILD, A NUMBER OF EXISTING ORDINARY SHARES IN ONESAVINGS BANK HELD ON BEHALF OF JCF FUNDS EQUAL TO APPROX. 9% OF NUMBER TO BE SOLD UNDER BOOKBUILD PROCESS WILL BE DISTRIBUTED TO CERTAIN INVESTORS IN JCF FUNDS ​.  Full Article

OneSavings Bank sees full year net loan book growth of about 20 pct
Wednesday, 8 Nov 2017 

Nov 8 (Reuters) - ONESAVINGS BANK PLC ::LOAN BOOK GROWTH OF 17% FOR NINE MONTHS TO 30 SEPTEMBER 2017 WITH NET LOANS AND ADVANCES GROWING BY £997M TO £6.9BN DURING PERIOD​.‍A RECORD QUARTER FOR ORGANIC ORIGINATIONS OF £677M IN THREE MONTHS TO 30 SEPTEMBER 2017​.‍TO DATE GROUP HAS DRAWN A TOTAL OF £1BN UNDER TERM FUNDING SCHEME AND DRAWINGS UNDER FUNDING FOR LENDING SCHEME HAVE BEEN REDUCED TO £92M​.‍EXPECT NET LOAN BOOK GROWTH OF C. 20% FOR FULL YEAR IN 2017​.‍EXPECT KEEPING NIM FOR FULL YEAR BROADLY FLAT TO 2016 AND COST TO INCOME RATIO BROADLY FLAT TO FIRST HALF​.‍"AS WE CONTINUE TO FOCUS ON PROFESSIONAL LANDLORDS AND INCREASE OUR MARKET SHARE. WE EXPECT LOAN BOOK GROWTH OF C.20% FOR FULL YEAR"-CEO​.  Full Article

Photo

Oil majors, exporters boost FTSE 100; Fed minutes eyed

London's FTSE 100 rose on Wednesday as oil majors tracked gains in crude prices and exporters benefited from a weaker pound, while markets waited for minutes of the U.S. Federal Reserve's July meeting for signs of further policy easing.