UK's Close Brothers falls as H1 profit drops, firm to cut 600 jobs

Close Brothers

17/03/2026 09:12

** Shares of British lender Close Brothers CBRO.L down 4% at 340.8p

** Co reports H1 adjusted operating profit down 19% to 65.2 mln pounds ($86.88 mln); to cut about 600 jobs by end of 2027 as part of accelerated cost-savings plan

** Loan book shrinks 2% to 9.2 bln pounds in H1; return on average tangible equity falls to 6.3% from 8.7% year ago

** Stock down ~35.3% YTD

($1 = 0.7505 pounds)

 (Reporting by Judes Joseph in Bengaluru)

 ((judes.joseph@thomsonreuters.com;))