Share Prices & Company Research

Market News

22 Jan 2019 | 08:41

Close Brothers expects to report 'solid' performance in Q1 as banking division momentum continues

Close Brothers said Tuesday it expected to report 'solid' performance in the first half of the year as its banking division continued to perform well.

The banking division continued to perform in line with expectations, as the loan book increased 3.1% to £7.5bn driven by good new business volumes across the commercial businesses and in premium finance.

The net interest margin had remained 'broadly stable since the last financial year, reflecting our continued pricing discipline,' the company said.

Asset Management was weighed down by negative market movements, resulting in a 3% decline in managed assets to £10.0bn at 31 December last year from £10.4bn at 31 July 2018, and a decrease in total client assets to £11.7bn from £12.2bn. 'Overall, we expect a solid outcome for the first half, and remain well positioned for the remainder of the financial year,' the company said.

At 8:41am: (LON:CBG) Close Brothers Group PLC share price was -32p at 1530p

Story provided by StockMarketWire.com
Get in touch today
Join Redmayne Bentley
Talk to us now about opening a new account or transferring your account from another provider
0113 243 6941
Get in touch today
Contact your local office
Contact your local office to find out more
The value of your investments and the income from them may go down as well as up, and you could get back less than you invested.
We use cookies on this site to improve your experience and help us provide you with a better website. An explanation of the cookies we use and their purpose can be found within our Cookie Policy. Your continued use of this site means you consent to the use of cookies.