OSB Group (OSB) Q3 2025 TU earnings summary

Executive summary

• Performance for the nine months to 30 September 2025 was in line with expectations and on track to meet full-year guidance.

• Strategic progress included a focus on higher-yielding loan segments and the sale of a second charge mortgage portfolio.

• Transformation initiatives advanced, including migration to a new savings platform and increased processing on a new lending platform.

Financial highlights

• Net loan book grew by 1.8% to £25.6bn; excluding the £130m second charge loan sale, growth would have been 2.3% from 31 December 2024.

• Originations rose 19% year-over-year to £3.4bn.

• Retail deposits increased by 6.0% to £25.3bn.

• Total assets increased by 2.4% to £31.0bn, with a 4.9% rise in liquid assets.

• Three months plus arrears improved to 1.7% from 1.8% at 30 June 2025.

Outlook and guidance

• On track to meet 2025 guidance for net interest margin, administrative expenses, loan book growth, and return on tangible equity.

• Buy-to-Let market remains subdued, but fundamentals of the UK Private Rented Sector are strong.

• Focus remains on optimizing balance sheet and delivering medium-term aspirations.