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OneSavings Bank

April 2016

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

  • Epic Code:
  • OSB
  • Price:
  • 315p
The shares recovered strongly following results, which showed that like all the challenger banks, 2015 was a bumper year for lending. The loan book grew by £1.2 billion to £5.1bn, mostly organic, although there was a purchase of a £260m second charge mortgage portfolio. Like Aldermore it was also primarily retail funded with customer deposits up 24% to £5.4bn. Underlying pretax profit increased by 52% to £105.9m and eps grew by 43% to 34.8p.OSB delivered strong growth in net interest income in 2015, up 36% to £169.8m and improved its net interest margin (the spread between income from borrowers and its own funding costs) by 18bps to 3.1%. The key cost:income ratio reduced to 26%.  As w ...

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With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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