Net interest income was £679.4m, down from £690.6m in 2024, which the group said was due to more costly spreads to SONIA from new retail funding.
Profit before tax fell to £382.5m from £418.1m in 2024; according to the group, this was due to an impairment charge compared to an impairment credit in the prior year, along with an increase in fair value losses and higher administrative expenses.
Andy Golding, group CEO at OSB Group (pictured above), said: “The loan book diversification has been gaining momentum, and in 2025 combined originations in our higher-yielding sub-segments grew by 53%.
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“The BTL gross loan book represented 68% of the group’s total gross loan book, a reduction from 70% a year ago, on track with our 2029 target.
“Finally, many milestones were achieved in the transformation programme in the year.
“I am particularly pleased with the launch of our new lending platform and a new brand dedicated to BTL borrowers, Rely, as well as a successful migration of some of our existing savers onto the new savings platform. All this was achieved on time and to budget.
“The group is well capitalised, with strong liquidity and a high-quality secured loan book.”
Andy added that the group’s net loan book growth in 2026 is now expected to be broadly similar to 2025.
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