UK's OneSavings Bank sees net interest margins ahead of expectations

05:29 - 06 May 2015

May 6 (Reuters) - OneSavings Bank Plc said it expected net interest margins ahead of expectations, helped by its acquisition of a portfolio of UK-based second-charge mortgages and the absence of competitive price pressure in the year to date.

The lender said it continued to see attractive opportunities for organic growth and would balance opportunities to maximise risk adjusted shareholder returns.

OneSavings Bank, formed following the recapitalisation of Kent Reliance Building Society by U.S. private equity group JC Flowers in 2011, told Reuters in March that it was open to takeover offers and expected more consolidation among smaller banks after more than doubling its annual profit. (Reporting by Aashika Jain in Bengaluru; Editing by Gopakumar Warrier)