May 23, 2014 / 7:16 AM / 4 years ago

UPDATE 1-Close Brothers confident of strong full-year result

(Adds details on services business, assets under management, share movement)

May 23 (Reuters) - British lender Close Brothers said the loan book of its banking division grew to 5.1 billion pounds ($8.60 billion)during the third quarter and that it was confident of delivering a “strong” result for the financial year.

The financial services provider, which lends to small and medium-sized businesses and gives investment management advice, said its loan book was up 10 percent year-to-date.

During the quarter, it saw strong demand from property finance and a seasonal uplift in demand in motor finance. The company’s banking business accounted for about 95 percent of adjusted operating profit for the previous financial year.

The company said the performance of its services business Winterflood, which provides trading services to retail brokers and institutions, remained consistent with the first half.

Assets under management rose 4 percent to 9.6 billion pounds in the quarter ended April 30.

Shares in the company were flat at 1328 pence in morning trade on the London Stock Exchange. They have risen about 21 percent over the past year. ($1 = 0.5931 British Pounds) (Reporting by Karen Rebelo and Richa Naidu in Bangalore; Editing by Gopakumar Warrier)

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