Onesavings Bank 2017 final results
- Underlying profit before tax increased 21% to £167.7m (2016: restated £138.2m)
- Loan book growth of 23% to £7.3bn (2016: £5.9bn) driven by 14% growth in gross originations to £2.6bn (2016: £2.3bn)
- Strong income growth alongside continued focus on cost discipline and efficiency delivered a stable cost to income ratio of 27% (2016: 27%)
- Net interest margin ('NIM') stable at 316bps (2016: restated 316bps)
- Further improved loan loss ratio of 7bps (2016:16bps)
- Return on equity ('RoE') remained strong at 28% (2016: 29%), despite strengthening our Common Equity Tier 1 ('CET1') capital ratio to 13.7% (2016: 13.3%)
- Underlying basic earnings per share grew 23% to 51.1 pence (2016: 41.7 pence)
- Recommended final dividend of 9.3 pence per share giving a full year dividend of 12.8 pence per share, in line with our target dividend payout ratio
- Further optimisation of capital structure through the issue of £60m of Additional Tier 1 securities
