In a trading update, the specialist lending and retail savings group revealed an organic origination figure of £599m for the same period and has drawn a total of £451m under the Term Funding Scheme.
The amount drawn under the Funding for Lending Scheme has been reduced to £525m.
Andy Golding, CEO of OneSavings Bank, said he was delighted with the performance of the business so far this year.
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“We achieved £599m of organic origination at attractive margins during the first quarter, and enjoyed exceptionally strong levels of new mortgage applications, a trend that has continued into Q2.
“This further demonstrates the strength of our specialist capabilities, which line up directly with the continuing professionalisation of the buy-to-let market.
“We remain confident of achieving at least mid-teens net loan book growth in 2017".
In March, OneSavings Bank posted a 29% rise in underlying profits for 2016.
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