OSB Group profit jumps 21% to £268m as rate hikes offset lower lending
OSB Group profit jumps 21% to £268m as rate hikes offset lower lending
Abstract
OSB says gross new lending was down 7% to £2.3bn in the six months to the end of June compared to the year before. Bank of England hiking interest rates six times in a row since December to 1.75%, as the central bank bids to combat rising inflation.
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