StockMarketWire.com - Specialist lender OSB Group reported a 9% drop in annual earnings but has credited its resilient business model in delivering strong results amid the pandemic.

Underlying pre-tax profit fell slightly to £346.2 million for the year ending Dec 31, 2020, from £381.1 million a year prior, while its net loan book grew 4% to £19.2 billion, the lender confirmed in its preliminary results.

The group suffered due to an impairment provision of £20 million, related to potential third-party fraud.

Chief executive Andy Golding described it as an 'isolated incident'.

The lender has recommended a final dividend of 14.5 pence per share, representing 25% of full-year underlying earnings attributable to ordinary shareholders, in line with its stated dividend policy.

At 8:05am: [LON:OSB] Osb Group PLC share price was 0p at 390p



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