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Close Brothers’ banking division reports 6.6% loan book growth

Tom Belger | 17:00 Wednesday 18th July 2018

Close Brothers Group PLC has revealed that its banking division has seen a 6.6% growth in its loan book in the 11 months to 30th June 2018.

The loan book stood at £7.3bn, up from the £6.9bn reported in July 2017.

Close Brothers revealed that both its commercial and property divisions had delivered good growth, while its retail loan book remained broadly flat.

The group said that bad debts remained low across all businesses, with no significant change to the bad debt ratio on the first half.

Close Brothers Asset Management also reported strong results as managed assets grew by 14% to £10.2bn and total client assets were up 8% to £12bn.

Close Brothers is due to release its full-year results for the 12-month period ending 31st July 2018 on 25th September 2018 and expects a good result in line with market expectations. 

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