Aug 15, 2024 / 08:30AM GMT
Andy Golding - OSB Group PLC - Chief Executive Officer, Executive Director
Good morning everybody and thank you for joining OSB Group's 2024 interim results presentation. This morning, we'll take you through the key highlights for the year, an update on our lending and savings franchises, then I'll hand over to Victoria for the financials in detail and return for some progress updates, take you through the outlook and add some additional color.
This slide highlights three key themes that help summarize our strategy and results in the first half. Firstly, we've been very disciplined in our approach to new lending. We've been focused on maintaining return on equity on new business during a period of high competition against a backdrop of a subdued market in volume terms.
During Q2, some lenders have elected to drop pricing to a level below those that deliver our target returns and as a result our net loan book growth is now slightly lower than we'd originally guided. This is reflective of our pricing discipline.
Our net interest margin reflects the impact felt across the market
Half Year 2024 OSB Group PLC Earnings Call Transcript
Aug 15, 2024
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