The findings come from the company’s preliminary results for the year ending on 31st December, 2023.
The lender’s underlying net loan book increased to £25.7bn, while its statutory net loan book increased to £25.8bn.
Despite loan book growths, preliminary results also showed reductions in the company’s underlying profit before tax by 28%, falling to £426m from £591.1m in 2022, and a fall in its statutory profit before tax, which dropped 30% to £374.4m, from £531.5m in 2022.
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The report also revealed that Andy Golding, CEO at OSB Group (pictured above), took a 40% pay cut in 2023.
Andy Golding commented: “The group performed well in its core market segments in 2023, growing its share of the BTL sub-segment to deliver 9% net loan book growth against a backdrop of a subdued wider mortgage market.
“As reported at the half-year, our financial results were significantly impacted by the adverse EIR adjustment, relating primarily to a shorter time spent on the reversion rate by our Precise Mortgages customers.
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