- Challenger bank Charter Court reported 'strong' half-yearly performance amid an uptick in profits driven by an increase in new loan originations. The company also said shareholders had approved its merger with OneSavings Bank.

For the six months ended 30 June 2019, pre-tax profit rose to £82.6m from £158.2m as the company grew its loan book 23.8% to £7.0bn on originations of £1.5bn.

Net interest margin was lower, however, at 3.04% compared with 3.08% a year earlier as was the CET1 ratio, which fell to 15.6% from 16.6%.

The retail savings deposit book was up 40.2% year-on-year to £6.0bn.

The company declared an interim dividend of 4.3p a share, up from 2.8p a year earlier.

'In addition to strong first half performance, I am pleased to report that our recommended all-share combination with OSB has received shareholder approval, clearance by the CMA and now remains subject to the satisfaction or waiver of other conditions including approvals from relevant UK regulatory authorities,' the company said.

At 8:28am: [LON:CCFS] Charter Court Financial Services Group Plc share price was -3.25p at 288.25p

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