UK's Close Brothers rises after motor finance redress update

Close Brothers

08/04/2026 08:15

Updates

** Shares of Close Brothers CBRO.L up 20% at 466.4 pence

** Stock is the top gainer on FTSE mid-caps .FTMC index

** British lender says Britain's motor finance redress scheme will costit 320 million pounds ($430.1 million), broadly similar to group's existing provision

** Co to cut CET1 by ~25 bps to 14.0% pro forma at January 31, 2026, still well above its 12%-13% target

** CBRO falls ~25% this year, as of last close

($1 = 0.7441 pounds)

 (Reporting by Megha Kumari)

 ((Megha.Kumari@thomsonreuters.com;))