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An announcement from Close Brothers Group ( (GB:CBG) ) is now available.
Close Brothers Group has announced a provision of up to £165 million in its financial statements for the first half of 2025 due to recent developments in motor commissions. This provision, which could significantly impact its CET1 capital ratio, is in response to legal and operational costs related to regulatory reviews and potential customer remediation. Despite these challenges, the group has made progress in capital actions, including the anticipated completion of the sale of Close Brothers Asset Management, which is expected to bolster its capital ratio. The company reported a robust financial performance for the period, with a slight decline in its loan book due to selective lending for risk optimization and maintaining strong margins in its banking operations.
More about Close Brothers Group
Close Brothers Group PLC operates within the financial services industry, offering a range of banking and financial services. The company is focused on maintaining strong capital and liquidity positions while navigating regulatory challenges, particularly in the motor finance sector.
YTD Price Performance: 61.98%
Average Trading Volume: 427
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $677M
See more insights into CBG stock on TipRanks’ Stock Analysis page.
