Close Brothers, Lloyds Banking, Secure Trust jump on UK bid to protect UK car-loan providers

Secure Trust Bank

21/01/2025 11:08

(Updates)
    ** Close Brothers Group  CBRO.L  jumps ~22% at 298p, while
Lloyds Banking Group  LLOY.L  up 4% at 61.06p
        ** Secure Trust Bank  STBS.L  surges about 32% to 458p,
set for its best day ever
  
    ** British finance minister Rachel Reeves launches bid to
intervene in a landmark car loan mis-selling case in an effort
to shield the motor finance industry as it faces a potential
multi-billion pound payout to consumers
    ** Lloyds has set aside 450 mln pounds  ($551.5 mln) to
cover possible costs related to ongoing regulatory review
    ** Lloyds top pct gainer on FTSE 100 index  .FTSE , which is
almost flat at 1100 GMT
    ** CBRO slumped about 70% in 2024 and STBS tumbled 47%; LLOY
jumped 14%
 
 ($1 = 0.8160 pounds)

 (Reporting by Anandita Mehrotra in Bengaluru)
 ((Anandita.Mehrotra@thomsonreuters.com))