Share Prices & Company Research

Market News

22 May 2019 | 08:33

Close Brothers reports 'solid' quarterly results as banking division delivers in-line performance

Close Brothers reported 'solid' quarterly performance as its banking division traded in-line with market conditions, but its market facing businesses continued to experience lower activity levels. 

For the period from 1 February to 30 April, the loan book increased by 1.5% to £7.5bn predominantly driven by commercial and property, and was up 3.6% year to date. In its asset management segment, client activity remained 'subdued', but managed assets increased to £10.9bn quarter-on-quarter, supported by 'positive market movements and continued net inflows,' the company said. Total client assets increased to £12.5 for the quarter, from £12.0bn a year earlier. 

In Winterflood, the group's market-making business, trading volumes remained low, but the division delivered 'solid profitability in the quarter, performing broadly in line with the first half,' the company added.   Looking ahead, the company said it expected to deliver a 'solid' result for the full financial year.

At 8:33am: (LON:CBG) Close Brothers Group PLC share price was -11.5p at 1483.5p

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.