Key financial figures for OneSavings Bank 2018-2020

Founded in 2011, OneSavings Bank plc is a specialist retail savings group and challenger bank headquartered in the United Kingdom (UK). The Bank saw high growth in 2019 as compared to 2018 due mainly to the merger with Charter Court Financial Services Group plc (CCFS) in October 2019. 2020 has seen the bank continue its strong growth from the previous year.

Challenger banks

The term 'Challenger Bank' is used as a description of banks and financial services that were created after the Global Financial Crisis and have made significant impact in 'challenging' incumbent large banks or have had a significant impact on the market. KPMG describe four main areas in which challenger banks have appeared in the market in the United Kingdom. These include full-service retail banks such as CYBG/Virgin Money, Metro Bank, TSB Bank and the Co-op, Specialist lenders such as OneSavings Bank and Aldermore, retailer banks including Tesco's and Sainsbury's and Digital Banks. As the newest and perhaps the most exciting facet of challenger banks, Digital banks are mobile app-based banks that do not have a physical presence on the high street. Due to their simplicity and ease of use they have attracted significant attention from customers and investors alike.