Close Brothers narrows loss: Close Brothers stock loses 2.52 percent

Published on 10/02/2026 at 14:00 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Savings reached GBP 36 million versus a GBP 25 million target. Close Brothers stock costs EUR 4.64 on October 2, 2026 after EUR 4.76, minus 2.52 percent.

Extreme Nahaufnahme von britischen Banknoten und Münzen — Makroaufnahme von Banknoten und Münzen visualisiert Finanzgeschäft von Close Brothers Group plc, ISIN GB0007668071, Illustration mit AI erstellt.

Close Brothers (ISIN GB0007668071) was trading at EUR 4.64 at Lang & Schwarz on October 2, 2026 at 1:47 p.m. CEST, minus 2.52 percent versus the prior close of EUR 4.76, as its fiscal 2026 statutory operating loss narrowed to GBP 60.3 million from GBP 122.4 million, according to Investegate on September 29, 2026. The figures show a turnaround with improving cost control, but profitability still depends on the motor finance redress exposure.

Cost savings beat the target

Close Brothers delivered GBP 36 million of annualized cost savings in fiscal 2026 against a GBP 25 million target. Adjusted operating profit nevertheless fell to GBP 120.3 million from GBP 144.3 million in fiscal 2025, while adjusted operating income declined to GBP 642.9 million from GBP 681.2 million, according to Investegate.

The operating picture is mixed. Underlying loan book growth reached 2 percent for fiscal 2026 and 4 percent in the second half, while the group guided to 5 percent to 10 percent underlying growth for fiscal 2027. Its CET1 capital ratio stood at 14.1 percent on July 31, 2026, above the medium-term target range of 12 percent to 13 percent.

Motor finance provision reaches GBP 320 million

The central risk remains the FCA motor finance consumer redress scheme. Close Brothers added GBP 164.7 million to the provision during fiscal 2026, taking the total to GBP 320.0 million, and said it would not pay a final dividend for fiscal 2026 because of legal uncertainty, according to Investegate. That charge explains why the statutory result remains negative even as adjusted earnings and lending activity show progress.

Shore Capital reiterated its Buy rating after the September 29 results and kept its price target at GBp 495.00, compared with the broker's cited share price of GBp 434.40, according to Yahoo Finance on September 29, 2026. The target remains tied to management delivering double-digit return on tangible equity by fiscal 2028.

London listing and euro quote

Close Brothers is listed on the London Stock Exchange under ticker CBG. The primary-exchange quote was GBp 392.40 at 12:54 p.m. BST on October 2, 2026, versus GBp 397.80 previously, with a 52-week range of GBp 318.40 to GBp 556.15.

At Lang & Schwarz, the stock was trading at EUR 4.64 on October 2, 2026 at 1:47 p.m. CEST, minus 2.52 percent versus the Lang & Schwarz prior close of EUR 4.76 on October 1, 2026. The further course of trading is shown by the continuously updated real-time quote of Close Brothers stock.