OSB Group Announces Further £100 Mln Share Repurchase Programme

March 13 (Reuters) - OSB Group PLC OSBO.L:

• FY UNDERLYING AND STATUTORY NET INTEREST MARGIN (NIM) REDUCED TO 230BPS AND 221BPS

• SEES 2027-2029 CET1 RATIO OF 14% TARGET POST BASEL 3.1

• FY PRETAX PROFIT GBP 418.1 MILLION

• FY ADJUSTED PRETAX PROFIT GBP 442.9 MILLION VERSUS. IBES ESTIMATE GBP 439.5 MILLION

• FY TOTAL DIVIDEND OF 33.6 PENCE PER SHARE (2023: 32.0 PENCE) INCLUDING A RECOMMENDED FINAL DIVIDEND OF 22.9 PENCE PER SHARE

• ANTICIPATE A LOW TEENS ROTE RATIO IN 2025

• 2025 AND 2026 WILL BE TRANSITION YEARS DURING WHICH GROUP WILL CONTINUE TO INVEST, WHILST LOWER MARGIN MORTGAGES WILL CONTINUE TO ROLL-OFF

• NIM IN 2025 IS EXPECTED TO BE 225BPS

• OUTLOOK 2026 NIM SIMILAR LEVELS TO 2025

• ANNOUNCED A FURTHER £100M SHARE REPURCHASE PROGRAMME OVER NEXT 12 MONTHS COMMENCING ON 14 MARCH

• EXPECTS TO SPEND A FURTHER C.£130M UNTIL TRANSFORMATION PROGRAMME COMPLETES IN 2027, OF WHICH 33% WILL BE CAPITALISED

• OUTLOOK 2027-2029; DISTRIBUTIONS TO BE PROGRESSIVE DIVIDEND PER SHARE AND COMMITMENT TO RETURN EXCESS CAPITAL

• FY CET1 CAPITAL RATIO 16.3%

• FY ADJUSTED ROE 16%