Onesavings Bank 2018 interim results
- Profit before tax increased 17% to £91.8m (H1 2017: £78.4m)
- Net loan book growth of 11%, driven by 17% growth in gross organic origination to £1,444m (H1 2017: £1,229m)
- Continued focus on cost discipline and efficiency alongside strong income growth delivered a cost to income ratio of 27% (H1 2017: 28%)
- Net interest margin ('NIM') of 301bps (H1 2017 restated: 324bps)
- Loan loss ratio of 11bps (H1 2017: 4bps), with prior period benefitting from increasing property values
- Fully-loaded Common Equity Tier 1 ('CET1') capital ratio strong at 13.3% (FY 2017: 13.7%)
- Basic earnings per share 27.3, up 13% (H1 2017: 24.1p)
- Return on equity of 26% (H1 2017: 28%)
- Interim dividend of 4.3p per share, up 23% (H1 2017: 3.5p)
