UK's Close Brothers to open 3%-10% higher after motor finance redress update

Close Brothers

08/04/2026 08:04

** Close Brothers CBRO.L opening 3%-10% higher, per premarket indicators from traders

** British lender says Britain's motor finance redress scheme will cost it 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;))