- OneSavings Bank reported profit before tax of £156.3m for the first half of 2020, down from £182.8m in the first half of 2019.

However, statutory profit before tax increased by 10% to £99.3m. The retail savings bank grew its net loan book grew by 2% to £18.5bn.

The bank's underlying net interest margin fell to 250bps, from 270bps in H1 2019. This included the impact of a delay in passing on Bank of England base rate cuts in full to savers, as well as a higher liquidity level held by the group.

OneSavings Bank granted payment holidays to approximately 26,000 accounts as of 30 June 2020, but the majority of these customers had resumed payment, the bank said. Only 18% of maturing payment holidays by value were to be extended.

At 9:00am: [LON:OSB] Onesavings Bank PLC share price was +47.7p at 308.3p

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