Close Brothers Group ( (GB:CBG) ) has shared an update.
Close Brothers Group reported a statutory operating loss before tax of £103.8 million for the first half of 2025, primarily due to a £165 million provision related to motor finance commissions. Despite this, the company achieved a pro-forma CET1 capital ratio of 13.4% following the sale of Close Brothers Asset Management, which simplified the group and allowed a sharper focus on its lending business. The group continues to implement cost management initiatives, expecting annualized savings of £25 million by the end of the financial year, and maintains a strong balance sheet with a CET1 ratio significantly above the requirement.
More about Close Brothers Group
Close Brothers Group PLC is a UK-based financial services company that primarily operates in the banking sector. It provides a range of services including lending, deposit-taking, wealth management, and securities trading, with a focus on serving small and medium-sized enterprises (SMEs) and individual customers in the UK.
YTD Price Performance: 82.23%
Average Trading Volume: 427
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $644.1M
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