OneSavings Bank finalised their merger with Charter Court Financial Services on 4 October 2019.
Both OneSavings Bank (OSB) and Charter Court Financial Services (CCFS) saw loan book growth in the nine months to 30 September, according to its latest trading update.
The update, which reported financial highlights from 1 July to date, shows OSB and CCFS loan books grew by 15% and 4% respectively.
New originations at OSB reached £2.5bn in the nine months to September, which is a up from £2.2bn reported at the same time in 2018.
At CCFS, new originations reached £2.4bn in the nine months to September, up from the £2.1bn reported in September 2018.
OSB expect to deliver net loan book growth of high-teens for 2019, whilst CCFS expect to deliver in the high-twenties.
Andy Golding, chief executive of OSB, said: “I am delighted that we successfully completed our combination with CCFS and we are now in the early stages of integrating the two businesses.
"We remain focussed on delivering shareholder value as we execute on the strategy for the enlarged group.
"Both banks’ lending franchises are performing very well with strong levels of applications at attractive margins across our core product types building a robust pipeline for Q1 2020.
"In addition to strong retail savings franchises, we have excellent capabilities in the securitisation market which allow us to diversify our funding.
"I am pleased that in July 2019, OSB securitised £500m of organically originated mortgages under our newly established Canterbury Finance RMBS programme, which was well received in the market.
"During the quarter, Charter Mortgages Limited successfully sold a residual interest in the Precise Mortgage Funding 2019-1B plc, which generated a pre-tax gain of £28.8m.
"We remain cognisant of the continued uncertain macroeconomic and political outlook, however we believe that as a combined business we are well placed to continue to deliver on our strategy and generate attractive shareholder returns through the cycle.”
OSB finalised their merger with CCFS on 4 October 2019.
