StockMarketWire.com - Close Brothers said Tuesday it expected to report 'solid' performance in the first half of the year as its banking division continued to perform well.

The banking division continued to perform in line with expectations, as the loan book increased 3.1% to £7.5bn driven by good new business volumes across the commercial businesses and in premium finance.

The net interest margin had remained 'broadly stable since the last financial year, reflecting our continued pricing discipline,' the company said.

Asset Management was weighed down by negative market movements, resulting in a 3% decline in managed assets to £10.0bn at 31 December last year from £10.4bn at 31 July 2018, and a decrease in total client assets to £11.7bn from £12.2bn.

'Overall, we expect a solid outcome for the first half, and remain well positioned for the remainder of the financial year,' the company said.


At 8:41am: [LON:CBG] Close Brothers Group PLC share price was -32p at 1530p



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