StockMarketWire.com - Close Brothers said loan growth was broadly flat in the first half of the year as a difficult UK economic environment kept a lid on activity levels in its banking business.

For the five months to 31 December 2019, the loan book remained broadly, increasing 0.4% to £7.68bn, with modest increase in commercial offset by a slight decline in property, while retail remained broadly flat.

The net interest margin remained broadly stable on the 2019 financial year at 7.8%, compared with 7.9% the prior year.

In its asset management division, managed assets grew to £12.6bn at 31 December 2019 and total client assets increased to £14bn.

Following a slow start to the year, Winterflood experienced an improvement in trading activity towards the end of 2019, Close Brothers said.

'While there remains uncertainty about the economic outlook for the UK, we are well positioned to continue supporting our customers and clients in a wide range of market conditions,' it added.


At 8:19am: [LON:CBG] Close Brothers Group PLC share price was -37.5p at 1529.5p



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