By Michael Susan
Close Brothers Group PLC said on Friday it delivered a positive performance in its current financial year, benefiting from buoyant business and increased demand.
In the banking sector, the company’s loan portfolio increased to £8.69 billion ($11.82 billion) as of December 31, from £8.44 billion as of July 31, thanks to good levels new business in asset finance and auto finance, he said.
The asset management division generated annualized net inflows of 8%, with assets under management increasing from £15.6 billion at December 31 to £16.6 billion at December 31, and total client assets from £17 billion to £18.0 billion. 0 billion, the company said.
The financial services firm said its common Tier 1 capital ratio – a key measure of balance sheet strength – stood at 15.7%, well above the applicable minimum regulatory requirement.
“The group has performed well so far this year and expects to deliver a strong first half performance across all of our businesses. make the most of opportunities in the remainder of the year,” the company said.
Close Brothers said it plans to release its half-year results for the six months ending Jan. 31 in March.
Write to Michael Susin at [email protected]