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Prices & Quotes - UK Markets - Close Brothers Group (CBG)

Risk Warning The value of investments can fall as well as rise and any income from them is not guaranteed and you may get back less than you invested. Past performance is not a guide to future performance.

Share Price:
Down 1,295.00p
Change Today:
-58.00p
Market Cap:
1,947.63m
Sector:
Banks

Close Brothers loan book increases despite reduced face-to-face interaction

By Iain Gilbert

Date: Wednesday 21 Jul 2021

LONDON (ShareCast) - (Sharecast News) - Merchant banking group Close Brothers said on Wednesday that its trading performance had been strong during the 11 months ended 30 June, with high levels of activity in its banking unit, good net inflows in the firm's asset management division and strong trading income in its Winterflood subsidiary.

Close Brothers stated that in its banking wing, loan books increased 9.6% to 8.3bn, with the group continuing to see "significant business volumes" following its third-quarter trading update. Annualised net interest margins remained broadly stable year-on-year at around 7.5%, while its annualised bad debt ratio was "reduced slightly" from 2020's figure of 1.3% during the first half of the trading year.

Close Brothers Asset Management generated annualised net inflows of 7%, up from 6% on 30 April, despite the continued impact of reduced face-to-face interaction with clients as a result of the ongoing Covid-19 pandemic, while managed assets increased to 15.3bn when including favourable market movements and total client assets increased to 16.4bn

The FTSE 250-listed firm's Winterflood unit benefited from "elevated market activity" for most of the year, although it also noted it had seen "a moderation in trading volumes" since its third-quarter trading update.

Chief executive officer Adrian Sainsbury said: "We have navigated the changing environment well and our model has enabled us to perform strongly, making the most of opportunities, throughout the year. We are encouraged by improvements in the economic backdrop, although uncertainties persist.

"I am confident that our proven and resilient model, together with the expertise of our people, leave us well placed to continue supporting our customers and clients and to protect, grow and sustain our business over the long term."

As of 0905 BST, Close Bros shares were up 1.82% at 1,512.0p.

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CBG Market Data

Currency UK Pounds
Price 1,295.00p
Change Today -58.00p
52 Week High 1,685.00p
52 Week Low 1,289.00p
Volume 168,919
Shares Issued 150.40m
Market Cap 1,947.63m
Beta 1.22

Performance Indicators

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What The Brokers Say

Strong Buy 1
Buy 1
Neutral 8
Sell 1
Strong Sell 0
Total 11
neutral
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

CBG Dividends

  Latest Previous
  Final Interim
Ex-Div 14-Oct-21 25-Mar-21
Paid 23-Nov-21 28-Apr-21
Amount 42.00p 18.00p

Trades for 26-Nov-2021

Time Volume / Share Price
16:49 3,884 @ 1,295.00p
16:35 52,805 @ 1,295.00p
16:29 27 @ 1,300.00p
16:29 68 @ 1,300.00p
16:29 90 @ 1,298.00p

CBG Key Personnel

Chair Michael N Biggs