Close Brothers Group plc·Financial Services
Close Brothers Group plc, a merchant banking company, provides financial services to small businesses and individuals in the United Kingdom. It operates through five segments: Commercial, Retail, Property, Asset Management, and Securities. The company offers various savings products, including personal and business savings, and pension deposits. It also provides asset finance, asset-based lending, commercial vehicle hire, short-term bridging finance, insurance premium finance, invoice discounting and factoring, and property finance products. In addition, the company offers funding services for general aviation aircraft, and various leisure and commercial vessels; sale and rent back services for the brewing sector; broker finance services to the agriculture, construction, manufacturing, and transport industries; leasing services for the construction, manufacturing, IT equipment, and specialist assets; and loan, hire purchase, leasing, and refinancing services to the professional service sector, including dental, medical, pharmacy, and veterinary sectors. Further, it provides financial education, investment management, and financial planning and advice services; self-directed services that help investors to manage their portfolio online; and services for financial advisers. Additionally, the company offers liquidity and flexible execution services to retail stockbrokers, wealth managers, and institutional investors; market making, sales, research, and corporate broking services; and dealing, custody, and settlement services to the institutional, wealth management, and brokerage clients. Close Brothers Group plc was founded in 1878 and is headquartered in London, the United Kingdom.
Financial Services
Financial - Capital Markets
3,000
2010-11-09
1.23

Close Brothers Group PLC (LSE:CBG) said it expects to face costs of about £320 million from the UK motor finance redress scheme. The merchant banking group said the estimate compares with an existing provision of £294 million set aside as of January and reflects the Financial Conduct Authority's policy statement last week on compensating customers for historic commission arrangements on car loans.

Britain's Close Brothers on Wednesday disclosed a potential 320 million pound ($429.50 million) cost related to a motor finance mis-selling scandal, broadly similar to the specialist lender's existing provision.

Close Brothers Group PLC (LSE:CBG), the UK specialist lender, has been upgraded to 'buy' from 'neutral' by UBS, which argues the stock's near-40% decline year-to-date has created a compelling entry point that materially undervalues the group's recovery prospects. UBS retained its 555p price target, implying more than 40% upside to the current 383p share price.

Shore Capital sets 490p target price, implying 42% upside, as it argues short-seller's motor finance redress scenarios are materially exaggerated Shares in Close Brothers Group PLC (LSE:CBG), the FTSE 250 specialist lender, have fallen sharply after a critical report from Viceroy Research argued the company had understated its liabilities from motor finance commission arrangements, but Shore Capital has responded by upgrading the stock to 'buy', arguing the selloff has gone too far. Close Brothers' management has firmly rejected Viceroy's claims, saying the analysis rests on exaggerated and unfounded assumptions, and Shore sided with that view, cutting its target price to 490p from 510p while concluding that the shares now more than compensate investors for any residual regulatory uncertainty.

Close Brothers Group plc (CBGPY) Q2 2026 Earnings Call Transcript

Close Brothers Group PLC (LSE:CBG) reported a narrower loss in the first half of its financial year as cost discipline and improving credit quality offset the continued drag from the motor finance commission scandal, while the group accelerated its cost-cutting programme. The specialist lender's adjusted operating profit fell 19% to £65.2 million for the six months to 31 January 2026, as a smaller loan book weighed on income.