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Close Brothers performs 'strongly' in Q3 amid ongoing momentum
StockMarketWire.com
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Merchant banking group Close Brothers said it continued to perform strongly in the third quarter amid growth in its lending and asset management business.
For the third quarter from 1 February 2021 to 30 April 2021, the loan book increased 3.2% in the quarter and 7.7% year-to-date to £8.2 billion, up from £8.0 billion seen 31 January 2021.
The common equity tier capital ratio rose to 15.5% from 15.3%.
The asset management division generated annualised net inflows of 6%, up from 4% at the end of January 2021, despite the 'continued impact of reduced face-to-face interaction with clients arising from Covid-19,' the company said.
'We continue to respond well to the challenges and opportunities arising from the current environment. Although there has been some improvement in the broader economic outlook, the impact of Covid-19 on customers remains uncertain,' it added.
Story provided by StockMarketWire.com
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