December 05, 2016 8:14 PM ET

Thrifts and Mortgage Finance

Company Overview of OneSavings Bank Plc

Company Overview

OneSavings Bank plc operates as a specialist lender and retail savings company in the United Kingdom and the Channel Islands. The company operates through three segments: Buy-to-Let/SME, Residential Mortgages, and Personal Loans. It offers fixed, notice, easy access, and regular savings products, including ISAs. The company also provides buy to let and commercial mortgages, as well as development loans to small and medium sized developers of residential property; first charge, second charge, and shared ownership residential mortgage loans; and personal and secured loans, as well as funding lines to non-bank finance companies secured against portfolios of financial assets, principally mortgag...

Reliance House

Sun Pier

Chatham,  ME4 4ET

United Kingdom

Founded in 1847

618 Employees

Key Executives for OneSavings Bank Plc

Chief Executive Officer and Director
Total Annual Compensation: 783.0K GBP
Chief Financial Officer, Director and Member of Risk Committee
Total Annual Compensation: 544.0K GBP
Compensation as of Fiscal Year 2015.

OneSavings Bank Plc Key Developments

OneSavings Bank plc Announces Board Changes

The Board of OneSavings Bank plc announced that Mike Fairey, Non-Executive Chairman and Dr. David Morgan, Non-Executive Director have tendered their resignations from their respective posts. Mr. Fairey will step down from the role at the 2017 Annual General Meeting following his decision to gradually scale down his business commitments. Mike joined OSB in April 2014 and led the company through its very successful IPO later that year. Dr. Morgan will be stepping down from the Board at the end of 2016. He joined OneSavings Bank as a Non-Executive Director at its formation in 2011 and has taken the decision to step down from the Board of OSB after 5 years with the business to focus on his other business interests.

OneSavings Bank Plc Proposes Interim Dividend for the Six Months Ended June 30, 2016, Payable on November 6, 2016

The directors of OneSavings Bank Plc proposed an interim dividend for the six months ended June 30, 2016 of 2.9 pence per share, based on one third of the total 2015 dividend of 8.7 pence per share, payable on November 6, 2016 with a record date of October 16, 2016. The company paid 2.0 pence per share for the same period last year.

OneSavings Bank Plc Reports Unaudited Consolidated Earnings Results for the Six Months Ended of June 30, 2016

OneSavings Bank Plc reported unaudited consolidated earnings results for the six months ended of June 30, 2016. For the quarter, the company reported net interest income of GBP 99.1 million compared to GBP 79.5 million a year ago. Total income was GBP 96.5 million compared to GBP 76.2 million a year ago. Operating profit was GBP 70.2 million compared to GBP 53.2 million a year ago. Profit before exceptional items was GBP 65.3 million compared to GBP 48.3 million a year ago. Profit before taxation was GBP 100.0 million compared to GBP 46.6 million a year ago. Profit for the year was GBP 74.1 million compared to GBP 37.0 million a year ago. Diluted earnings per share were 30.1 pence compared to 15.0 pence a year ago. Net cash from operating activities was GBP 11.1 million compared to net cash used in operating activities of GBP 339.5 million a year ago. Purchases of equipment and intangible assets were GBP 5.3 million compared to GBP 5.3 million a year ago. Underlying profit before taxation increased 36% to GBP 64.6 million against of GBP 47.6 million for the same period a year ago. Underlying return on equity was 29% against of 31% for the same period a year ago. Underlying basic earnings per share was 19.7 pence against of 15.5 pence a year ago.

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Recent Private Companies Transactions

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