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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)

Close Brothers Group Says H1 Adjusted Operating Profit Up 6 Pct To 142.3 Mln Pounds
Tuesday, 13 Mar 2018 03:00am EDT 

March 13 (Reuters) - Close Brothers Group Plc ::H1 ADJUSTED OPERATING PROFIT ROSE 6 PERCENT TO 142.3 MILLION STG.INTERIM DIVIDEND UP 5 PERCENT TO 21 PENCEPER SHARE.H1 LOAN BOOK GREW BY 1.7% TO £7.0 BILLION, UP 7% YEAR ON YEAR,.WE HAVE SEEN NO SIGNIFICANT CHANGE IN TRADING CONDITIONS SINCE PERIOD END.SAYS ‍HAVE SEEN NO SIGNIFICANT CHANGE IN TRADING CONDITIONS SINCE PERIOD END AND REMAIN WELL POSITIONED TO DELIVER A GOOD RESULT FOR FULL YEAR​.H1 NET INTEREST MARGIN OF ‍8.2​ PERCENT VERSUS 8.2 PERCENT YEAR AGO IN BANKING DIVISION.H1 AVERAGE LOAN BOOK AND OPERATING LEASE ASSETS OF ‍7,131.1​ BILLION STG VERSUS 6.66 BILLION STG YEAR AGO IN BANKING DIVISION.H1 BAD DEBT RATIO OF ‍0.7​ PERCENT VERSUS 0.5 PERCENT YEAR AGO IN BANKING DIVISION.  Full Article

Close Brothers Group Says "Confident" Of Delivering Increase In Profit In H1
Thursday, 25 Jan 2018 02:25am EST 

Jan 25 (Reuters) - Close Brothers Group Plc ::‍PERFORMANCE SINCE START OF FINANCIAL YEAR HAS REMAINED GOOD, WITH ALL THREE DIVISIONS AHEAD OF EXPECTATIONS​.MANAGED ASSETS INCREASED 8.2% TO £9.6 BILLION OVER FIVE MONTHS TO 31 DEC. 2017 (31 JULY 2017: £8.9 BILLION).CLOSE BROTHERS - FIVE MONTHS ENDED DEC 31 ‍BANKING DIVISION GENERATED STRONG RETURNS AND PROFIT GROWTH DURING PERIOD, WITH STABLE NET INTEREST MARGIN​.‍FIVE MONTHS ENDED DEC 31 LOAN BOOK WAS UP 2.6% OVER PERIOD AND 7.3% YEAR ON YEAR AT £7.1 BILLION​.CONFIDENT OF DELIVERING INCREASE IN PROFIT IN H1, REMAIN WELL POSITIONED FOR FULL 2018 FINANCIAL YEAR.FIVE MONTHS ENDED DEC 31 ‍WINTERFLOOD CONTINUED ITS GOOD PERFORMANCE WITH TRADING ACTIVITY REMAINING HIGH​.  Full Article

Close Brothers- Announces Programme To Purchase Shares Worth 7.4 Million Stg
Thursday, 30 Nov 2017 07:39am EST 

Close Brothers Group Plc ::CLOSE BROTHERS GROUP PLC - ‍PROGRAMME TO PURCHASE SHARES WITH AN AGGREGATE MARKET VALUE EQUIVALENT TO £7.4 MILLION, WILL COMMENCE ON 30 NOVEMBER 2017​.CLOSE BROTHERS GROUP PLC - PURPOSE OF SHARE PURCHASE IS TO MEET FUTURE OBLIGATIONS ARISING FROM GROUP'S ALL-EMPLOYEE SHARE OPTION SCHEMES.CLOSE BROTHERS- ANNOUNCES PROGRAMME TO PURCHASE SHARES WORTH 7.4 MILLION STG.  Full Article

British lender Close Brothers' Q1 boosted by banking unit, market maker
Thursday, 16 Nov 2017 02:00am EST 

Nov 16 (Reuters) - Close Brothers Group Plc :QTRLY ‍LOAN BOOK INCREASED 1.4% IN PERIOD TO £7.0 BILLION (31 JULY 2017: £6.9 BILLION)​.CLOSE BROTHERS GROUP PLC - ‍HAS MADE A GOOD START TO YEAR WITH CONTINUED STRONG PROFITABILITY ACROSS ALL THREE DIVISIONS​.CLOSE BROTHERS GROUP PLC - ‍WINTERFLOOD BENEFITED IN Q1 FROM CONTINUED RETAIL INVESTOR TRADING ACTIVITY​.CLOSE BROTHERS GROUP PLC - ‍REMAIN WELL POSITIONED FOR REMAINDER OF FINANCIAL YEAR​.SAYS ‍BOTH NET INTEREST MARGIN, BAD DEBT RATIO REMAINED IN LINE WITH LAST FINANCIAL YEAR.QTRLY ‍MANAGED ASSETS INCREASING 6.5% TO £9.5 BILLION (31 JULY 2017: £8.9 BILLION)​.  Full Article

Close Brothers Group posts FY adjusted operating profit of 264.8 mln pounds
Tuesday, 26 Sep 2017 02:00am EDT 

Sept 26 (Reuters) - CLOSE BROTHERS GROUP PLC ::FY ADJUSTED OPERATING PROFIT ROSE 9 PERCENT TO 243.5 MILLION STG FOR BANKING .FINAL DIVIDEND 40 PENCEPER SHARE.TOTAL DIVIDEND UP 5 PERCENT TO 60 PENCEPER SHARE.‍BANKING DELIVERED ADJUSTED OPERATING PROFIT OF £243.5 MILLION, UP 9% ON PRIOR YEAR, WITH STABLE NET INTEREST MARGIN AND CONTINUED LOW IMPAIRMENTS​.FY ADJUSTED OPERATING PROFIT 264.8 MILLION STG VERSUS 234 MILLION STG YEAR AGO.LOAN BOOK AT 31 JULY 6.9 BILLION STG VERSUS 6.4 BILLION STG A YEAR EARLIER.‍INCREASE IN BANKING PROFIT WAS DRIVEN BY PROPERTY FINANCE, WITH FY OPERATING PROFIT GROWTH OF 24%​.FY COMMON EQUITY TIER 1 RATIO 12.6 PERCENT VERSUS 13.5 PERCENT A YEAR EARLIER.FY ‍ADJUSTED OPERATING PROFIT IN COMMERCIAL FINANCE WAS UP 4%, WHILE RETAIL FINANCE WAS BROADLY FLAT​.‍WINTERFLOOD REPORTED OPERATING PROFIT OF £28.1 MILLION, ALMOST 50% HIGHER THAN PRIOR YEAR, REFLECTING STRONG RETAIL INVESTOR TRADING ACTIVITY​.‍ASSET MANAGEMENT CONTINUED TO MAKE GOOD PROGRESS WITH ADJUSTED OPERATING PROFIT OF £17.4 MILLION AND GOOD NET INFLOWS, AT 9% OF OPENING MANAGED ASSETS​.‍UK ECONOMY REMAINED RELATIVELY STABLE THROUGHOUT YEAR​.‍INTEREST RATES REMAINED LOW, SUPPORTING CONTINUED LOW IMPAIRMENTS, AND SUPPLY OF CREDIT REMAINS ABUNDANT​.‍LONGER-TERM ECONOMIC OUTLOOK AND IMPACT OF BREXIT ON OUR CUSTOMERS AND WIDER MARKETS REMAIN UNCERTAIN​.  Full Article

Close Brothers Group says FY adjusted operating profit up 9 pct to 243.5 mln pounds
Tuesday, 26 Sep 2017 02:00am EDT 

Sept 26 (Reuters) - CLOSE BROTHERS GROUP PLC ::FY ADJUSTED OPERATING PROFIT ROSE 9 PERCENT TO 243.5 MILLION STG.FINAL DIVIDEND 40 PENCEPER SHARE.TOTAL DIVIDEND UP 5 PERCENT TO 60 PENCEPER SHARE.‍BANKING DELIVERED AN ADJUSTED OPERATING PROFIT OF £243.5 MILLION, UP 9% ON PRIOR YEAR, WITH STABLE NET INTEREST MARGIN AND CONTINUED LOW IMPAIRMENTS​.FY ADJUSTED OPERATING PROFIT 264.8 MILLION STG VERSUS 234 MILLION STG YEAR AGO.LOAN BOOK AT 31 JULY 6.9 BILLION STG VERSUS 6.4 BILLION STG A YEAR EARLIER.‍INCREASE IN BANKING PROFIT WAS DRIVEN BY PROPERTY FINANCE, WITH FY OPERATING PROFIT GROWTH OF 24%​.FY COMMON EQUITY TIER 1 RATIO 12.6 PERCENT VERSUS 13.5 PERCENT A YEAR EARLIER.FY ‍ADJUSTED OPERATING PROFIT IN COMMERCIAL FINANCE WAS UP 4%, WHILE RETAIL FINANCE WAS BROADLY FLAT​.‍WINTERFLOOD REPORTED OPERATING PROFIT OF £28.1 MILLION, ALMOST 50% HIGHER THAN PRIOR YEAR, REFLECTING STRONG RETAIL INVESTOR TRADING ACTIVITY​.‍ASSET MANAGEMENT CONTINUED TO MAKE GOOD PROGRESS WITH ADJUSTED OPERATING PROFIT OF £17.4 MILLION AND GOOD NET INFLOWS, AT 9% OF OPENING MANAGED ASSETS​.‍UK ECONOMY REMAINED RELATIVELY STABLE THROUGHOUT YEAR​.‍INTEREST RATES REMAINED LOW, SUPPORTING CONTINUED LOW IMPAIRMENTS, AND SUPPLY OF CREDIT REMAINS ABUNDANT​.‍LONGER-TERM ECONOMIC OUTLOOK AND IMPACT OF BREXIT ON OUR CUSTOMERS AND WIDER MARKETS REMAIN UNCERTAIN​.  Full Article

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

UK lender Close Brothers reports higher H1 profit

March 13 British lender Close Brothers Group reported a 6 percent rise in first-half adjusted operating profit, driven by strength in its banking division and higher investor trading activity at market maker Winterflood.