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Close Brothers Group PLC (CBRO.L)

CBRO.L on London Stock Exchange

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Latest Key Developments (Source: Significant Developments)

Moody's takes rating actions on 11 UK banks and building societies
Wednesday, 2 Aug 2017 03:31am EDT 

Aug 2 (Reuters) - :Moody's takes rating actions on 11 UK banks,building societies reflecting increased resilience to expected deterioration in uk operating environment.Moody's: affirmed the ratings of eight UK banks and building societies.Moody's - ratings of Lloyds Banking Group,units placed on review for upgrade, apart from P-1 short-term ratings of Lloyds Bank Plc which were affirmed.Moody's: changing the outlooks on the deposit ratings of five uk banks and building societies to stable from negative.moody's: maintaining stable outlooks on the deposit ratings of three other firms.Moody's: leeds building society's ratings were downgraded, principality building society's ratings were upgraded.Moody's-Change in outlook reflect view UK banks,building societies now generally better positioned for modest worsening in UK operating environment.Moody's: lowered its uk macro profile to 'strong+' from 'very strong-',.  Full Article

Close Brothers sees good result for current financial year
Friday, 21 Jul 2017 02:00am EDT 

July 21 (Reuters) - Close Brothers Group Plc ::Group has continued to perform well across all divisions, consistent with the company's Q3 trading update.Loan book up 6.4 pct year to date at 6.8 bln stg (31 July 2016: 6.4 bln stg).For eleven months to June 30, property finance continued to perform well, with solid demand and strong loan book growth.For eleven months to June 30, retail finance benefited from strong growth in premium finance business.For eleven months to June 30, bad debt ratio remains in line with prior year and net interest margin also remained broadly stable.Winterflood delivered a good performance year to date supported by continued strong retail trading activity throughout period.Remain confident in a good result for current financial year.Managed assets are up 9 pct year to date at 8.8 bln stg (31 July 2016: 8.0 bln stg).  Full Article

Close Brothers says strong performance in Q3
Friday, 19 May 2017 02:07am EDT 

May 19 (Reuters) - Close Brothers Group Plc :Group continued to perform well in quarter, with strong profitability across all three divisions..Remain confident in delivering a good result for full year..Loan book increased 2.3 pct in quarter and is up 4.1 pct year to date at 6.7 billion pounds.Managed assets increased 7 pct in quarter to 8.5 billion pounds at 30 april 2017.  Full Article

Close Brothers expects slightly higher loan growth in H2 - CEO
Tuesday, 14 Mar 2017 04:15am EDT 

Close Brothers Group Plc : Close Brothers expects slightly higher loan growth in H2, with company consensus forecast of FY loan growth of 7 percent - CEO Further company coverage: [CBRO.L] ((Bangalore.newsroom@thomsonreuters.com;)).  Full Article

Close Brothers says Biggs to succeed Macpherson as chairman
Tuesday, 14 Mar 2017 03:12am EDT 

Close Brothers Group Plc : Mike Biggs has been appointed an independent non-executive director and chairman designate of group . Biggs joins board as a director today, 14 March 2017, and will become chairman of board effective 1 May 2017. .Biggs will succeed Strone Macpherson, who has confirmed his intention to step down, effective 30 April 2017.  Full Article

Close Brothers posts 21 pct rise in H1 adjusted operating profit to 134.2 mln pounds
Tuesday, 14 Mar 2017 03:10am EDT 

Close Brothers Group Plc : H1 adjusted operating profit rose 21 percent to 134.2 million stg . Interim dividend up 5 percent to 20 pence per share . HY adjusted operating profit 134.2 million stg versus 111.2 million stg . HY adjusted operating profit £134.2m million stg versus 111.2 million stg . HY return on opening equity 18 percent versus 17.9 percent year ago . HY operating profit before tax 131.4 million stg versus 108.7 million stg year ago . HY net interest margin 8.2% versus 8.3% year ago . HY dividend per share 20 pence versus 19 pence year ago . HY bad debt ratio 0.5% versus 0.6% year ago . HY net interest margin 8.2 percent versus 8.3 percent year ago . As at Jan 31, loan book 6.5 billion stg versus 6.4 billion stg as at July 31, 2016 . Have achieved a strong performance in first half of year and are confident in delivering a good result for full year . Macroeconomic and financial market conditions in UK remain benign, but we continue to monitor developments carefully . HY basic eps 65.1 pence .As at Jan 31, CET1 capital ratio 12.6 percent versus 13.5 percent as at July 31, 2016.  Full Article

UK Lender Close Brothers sees "strong" H1 result, loan book rises
Friday, 20 Jan 2017 02:00am EST 

Close Brothers Group Plc : Scheduled trading update . Has delivered a strong performance since start of financial year . Banking division has generated strong returns and profit growth during period . Loan book was up 2.3 pct over period and 9.3 pct year on year at 6.6 billion stg (31 July 2016: 6.4 billion stg) . Although new business volumes remained solid across loan book, repayments were higher particularly towards end of period . Winterflood delivered a good performance, with strong retail trading activity throughout period . Asset management benefited from improved market conditions and both market movements and net inflows were positive . Managed assets reduced to 7.8 billion pct (31 July 2016: 8 billion stg) reflecting previously announced disposal of OLIM Investment Managers . Since Jan 5 have issued 175 million stg of tier 2 subordinated debt securities .Confident in delivering a strong result for first half as well as a good outcome for full 2017 financial year.  Full Article

Close Brothers to issue 150 mln stg of subordinated debt
Thursday, 5 Jan 2017 06:40am EST 

Close Brothers Group Plc : Issuance of Tier 2 capital . To issue about 150 mln stg of subordinated debt which would qualify as Tier 2 capital . CET1 and total capital ratios remain comfortably ahead of minimum requirements .Says performance in November and December has continued to progress well.  Full Article

Close Brothers Group says Q3 loan book up 4 pct
Friday, 20 May 2016 02:11am EDT 

Close Brothers Group Plc : "banking division continues to see robust demand for our specialist lending services" . Return on net loan book remains strong, as both net interest margin and bad debt ratio have remained broadly in line with first half . Loan book increased 4.0% in quarter and is up 8.2% year to date to £6.2 billion . Winterflood's business remains sensitive to an unpredictable market. . Total client assets increased 2% to £9.3 billion .Confident in delivering a satisfactory outcome for full year.  Full Article

Fitch Affirms Close Brothers at 'A'; Outlook Stable

(The following statement was released by the rating agency) LONDON, September 11 (Fitch) Fitch Ratings has affirmed Close Brothers Group's (CBG) and wholly owned subsidiary Close Brothers Limited's (CBL) Long-Term Issuer Default Ratings (IDRs) at 'A' with Stable Outlooks. Their Viability Ratings (VR) have been affirmed at 'a'. A full list of rating actions is at the end of this rating action commentary. KEY RATING DRIVERS IDRS, VRS AND SENIOR DEBT CBG's and CBL's ratings reflect the resilient an