UPDATE 1-Britain's OSB Group raises full-year net loan book growth outlook

(Adds background, net loans and advances figure) May 3 (Reuters) - British lender OSB Group Plc on Wednesday raised its full-year outlook for underlying net loan book growth to 7% from about 5% earlier, aided by a rise in interest rates and a revival in demand for mortgage loans.

Lenders, who weathered the collapse of Silicon Valley Bank and the Signature Bank in March, are seeing a rise in their earnings, helped by successive rate hikes and a slight revival in the property market after a slowdown last year.

The company, which specialises in buy-to-let, commercial mortgages, and residential development finance, posted a 3% increase to 24.2 billion pounds ($30.22 billion) in its underlying net loans and advances for the first quarter.

"Whilst we remain mindful of the uncertain macroeconomic outlook, the growth so far this year and the current level of demand enable us to increase our full year guidance for underlying net loan book growth ...," Chief Executive Andy Golding said.

OSB Group also reported organic originations of 1.2 billion pounds in the quarter. ($1 = 0.8008 pounds) (Reporting by Sinchita Mitra and Eva Mathews in Bengaluru; Editing by Rashmi Aich and Uttaresh Venkateshwaran)

Reuters

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

off-the-wire

UPDATE 1-Britain's OSB Group raises full-year net loan book growth outlook

By Reuters

Reuters

Reuters

Gold is never going back to $2,000: 'That's history,' prices to 3x from here – Peter Schiff

‘Biggest economic shift since Nixon’: Major U.S. monetary policy changes coming in 12-36 months – Jack Mallers

India joins South Africa in denying BRICS currency plans after Trump’s 100% tariff threat

Solid price gains for gold, silver after busy news weekend

Bitcoin remains a ‘speculative vehicle’ and ‘won’t work’ as a reserve: ‘I prefer gold’ – Ray Dalio

off-the-wire

UPDATE 1-Britain&apos;s OSB Group raises full-year net loan book growth outlook

By Reuters

Reuters

Reuters

UPDATE 1-Britain's OSB Group raises full-year net loan book growth outlook