Close Brothers boosted by banking arm

first_img whatsapp Close Brothers boosted by banking arm John Dunne Financial services group Close Brothers said it was confident of posting solid results for 2011, with growth in its main banking arm offsetting slight losses at its asset management unit.“Given the result year to date, overall we remain confident we will deliver a satisfactory performance for the 2011 financial year,” the company said.Close Brothers, whose services include merchant broking, securities dealing and asset management, said its core banking arm had loan book growth of ten per cent for the five months to 31 December.It added that while the bad debt ratio for its banking arm was slightly higher compared with a year earlier due to writedowns on property, the division had maintained a strong net interest margin.Close Brothers is restructuring its asset management division.Close Brothers said the asset management unit had made an unspecified “small loss” over the period, although total funds under management rose 19 per cent to £8.8bn. Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofThe Truth About Bottled Water – Get the Facts on Drinking Bottled WaterGayotChicken Bao: Delicious Recipes Worth CookingFamily ProofCheese Crostini: Delicious Recipes Worth CookingFamily Proof Friday 21 January 2011 2:53 amcenter_img Tags: NULL by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBeAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCuteDefinitionDesi Arnaz Kept This Hidden Throughout The Filming of ‘I Love Lucy’DefinitionTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island Farmthedelite.comNetflix Cancellations And Renewals: The Full List For 2021thedelite.com whatsapp Share Show Comments ▼last_img read more