Banks OneSavings, Charter Court report bigger loan book ahead of merger

Shutterstock photo

May 15 (Reuters) - OneSavings Bank Plc , set to create one of Britain's biggest specialist lenders in a merger with Charter Court Financial Services Group Plc , reported a bigger loan book for the first three months of the year, but said it had seen marginal margin dilution.

Loan book rose 5% for the three months ending March 31 with net loans and advances growing by 448 million pounds ($578.23 million) to 9.4 billion pounds, boosted by commercial and residential lending.

Charter Court and OneSavings announced their intention to merge in March, in a merger that will bolster their defences in the face of uncertainty brought on by Brexit.

Separately, Charter Court reported a 17.9% rise in its loan book to 6.5 billion pounds for the quarter ended March 31.

($1 = 0.7748 pounds)

This article appears in: Politics , World Markets , Stocks , Economy

More from Reuters


See Reuters News

Research Brokers before you trade

Want to trade FX?