Full Year 2025 OSB Group PLC Earnings Call Transcript
Key Points
- OSB Group PLC (OSBGF) achieved all targets set for 2025, aligning with their medium-term plan.
- Net loans grew by 3.2%, with significant growth in commercial lending and higher-yielding segments.
- The company maintained cost discipline, with core cost growth contained to only 0.8%.
- Profit before tax was GBP383 million, translating to a RoTE of 13.7%, and a 5% increase in full-year dividend was announced.
- A GBP100 million share buyback program for 2026 was announced, following the successful completion of the 2025 buyback program.
- Net interest income decreased by 2% compared to 2024, with a reduction in NIM by 2 basis points.
- The fair value loss on hedging activities increased significantly to GBP22 million.
- Administrative expenses rose by 5%, driven by investment in the transformation program.
- There was an impairment charge of GBP13 million for 2025, compared to an impairment credit in 2024.
- Funding costs increased, with elevated levels persisting into 2026, impacting NIM guidance.
Good morning and thank you for joining OSB Group's 2025 full year results presentation. This morning, I'd like to take you through the key highlights for the year, provide an update on strategy that we presented back in March last year and insights into the macro drivers that are supporting our business. Then I'll hand over to Victoria for the financials in detail before returning to summarize the outlook.
Starting with a high-level view of the business. As I said to you back at the half year, we're on track. A year ago, at our investor update, we set out our strategy to remain the number 1 specialist lender and also provide short-term guidance and medium-term aspirations. I'm very pleased that we have delivered in line with our 2025 guidance, the first year of our transition period. As you can see on the right-hand side, we have achieved all of our targets, and we are building well towards our medium-term plan.
This slide highlights our three familiar themes that demonstrate progress against our strategy and
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