The OSB Group PLC Board has declared an interim dividend of 11.8 pence per share, which will be paid on 18 September 2026 to shareholders on the register at the close of business on 14 August 2026. The ordinary shares will be quoted ex-dividend on the London Stock Exchange from 13 August 2026.
Other financial highlights include:
- Net loan book grew by 1.3% to £26.3bn (31 December 2025: £25.9bn) supported by a 10% growth in originations to £2.3bn (H1 2025: £2.1bn) with continued focus on sustainable lending margins
- Net interest income increased by 1% to £339.8m (H1 2025: £337.0m). Net interest margin reduced to 223bps (H1 2025: 230bps) due to more costly spreads to SONIA from new retail funding that more than offset the back book dynamics and new business written at sustainable margins
- Administrative expenses increased by 4% to £136.5m (H1 2025: £131.4m) as a result of further investment in the transformation programme; core administrative expenses decreased by 0.4%. Cost to income ratio was broadly unchanged at 40.1% (H1 2025: 40.3%)
- Loan loss ratio increased to 12bps (H1 2025: 2bps) and arrears balances of three months or more decreased to 1.6% (31 December 2025: 1.7%)
- Profit before tax reduced to £187.2m (H1 2025: £192.3m) due to a higher impairment charge and higher administrative expenses which more than offset an increase in net interest income and a lower fair value loss on financial instruments
- Retail deposits increased by 3% to £25.0bn (31 December 2025: £24.3bn)
- RoTE reduced to 13.3% (H1 2025: 13.7%) due to a lower profit attributable to ordinary shareholders in the period
- TNAV per share improved to 584 pence as at 30 June 2026 (31 December 2025: 579 pence) primarily as a result of a lower number of shares outstanding
- Basic earnings per share (EPS) increased to 38.5 pence (H1 2025: 37.3 pence) primarily due to a lower weighted average number of shares outstanding
- Common Equity Tier 1 capital ratio, which included the full impact of the £100m share repurchase programme announced in March, remained robust at 15.2% (31 December 2025: 15.8%)
- As at market close on 4 August, the Group had repurchased £69.5m worth of shares under the £100m share repurchase programme announced in March which is due to complete no later than 6 March 2027
