Strong lending drives OneSavings profit ahead of merger

(Reuters) - Lender OneSavings , which is merging with rival Charter Court Financial , reported a higher first-half underlying profit, thanks to a strong loan book, though net interest margin shrank further amid pricing pressure. Net interest margin, a key measure of profitability, contracted to 278 basis points (bps) from 301 bps for the six months ended June 30, while underlying pretax profit rose 6% to 96.9 million pounds, OneSavings said. "Considering the current strong pipeline and..