Key facts
- OSB Group said its net loan book rose 1.9%, or £502.6 million, to £26.4 billion in the nine months to September 30, 2026.
- Originations increased 4% to £3.5 billion from £3.4 billion in the nine months to September 2025, OSB Group said.
- Retail deposits rose 3.0%, or £735.7 million, to £25.0 billion, the group said.
- OSB Group said it drew £400 million of central bank facilities in the third quarter, leaving £656.8 million outstanding at September 30.
- The group's CET1 ratio fell 40 basis points to 15.4% from 15.8% at December 31, 2025, it said.
- OSB Group said 3 months+ arrears fell 10 basis points to 1.6% from 1.7% at the end of 2025.
OSB Group PLC, the specialist lending and retail savings group, issued its trading update for the period from January 1 to September 30, 2026, on November 5, 2026. The group said it delivered a resilient performance in line with expectations and its 2026 guidance.
The net loan book increased by 1.9%, or £502.6 million, to £26.4 billion, supported by a 4% rise in originations to £3.5 billion from £3.4 billion in the nine months to September 2025. OSB said its buy-to-let and residential franchises delivered a strong origination performance, while originations in higher-yielding sub-segments declined modestly compared with the prior period, which the group attributed to macroeconomic uncertainty and elevated mortgage rates.
Retail deposits increased by 3.0%, or £735.7 million, to £25.0 billion. The group drew £400 million of central bank facilities during the third quarter, with £656.8 million outstanding at September 30, against £1.5 billion at December 31, 2025. Total assets fell 0.5% to £31.0 billion, which OSB described as liquidity portfolio optimisation.
OSB said swap rate volatility delivered a small gain on the fair value of unhedged mortgage pipeline swaps in the third quarter, mostly offset by a small increase in impairment charge in the quarter. Risk-weighted assets rose 1.6% to £12.7 billion, and the CET1 ratio fell 40 basis points to 15.4%. The 3 months+ arrears rate fell 10 basis points to 1.6%.
On its transformation program, OSB said residential mortgage originations launched on its new lending platform with application to offer in less than five days for 65% of cases, and buy-to-let mortgages on the new platform reached a £1 billion balance sheet milestone. The migration of online Kent Reliance savings customers to the new savings platform was completed, with 253,000 accounts and £7.1 billion of balances on the platform. Kent Reliance ISAs went back on sale in September, with about 3,500 fully automated ISA transfers completed, and flexible ISAs were launched in September.