Close Brothers (#CBG) – motor finance commissions update, estimates scheme “provision of c.£320 million on a pro forma basis as at 31 January 2026… compares to the group’s IAS 37 provision of £294m”

Fraser Perring bear dossier on Close Brothers - warns it faces wipeout

My pal Fraser has published a bear dossier on Close Brothers (CBG) warning that it faces a wipeout and is not being honest with the market about the financial threats it faces. Enjoy.

Close Brothers (#CBG) – completes sale of Winterflood Securities to Marex following regulatory approval

Close Brothers (#CBG) – “Further update in relation to Motor Commissions” = “additional expected charge of around £135 million”

Close Brothers (#CBG) – after ‘welcoming’ motor finance Supreme Court judgment, “look forward to engaging with the FCA in respect of the consultation”

Close Brothers (#CBG) – agreement to sell “execution services and securities business” Winterflood Securities for approx. £103.9m

Close Brothers (#CBG) – completes sale of wealth management business, upfront cash consideration £146m

Close Brothers (#CBG) – “anticipates that it will recognise a provision in the H1 2025 financial statements in relation to motor commissions of up to £165 million”

Close Brothers (#CBG) – H1 “challenging”, emphasises “progress towards resuming the group's track record of earnings growth and returns since”

Close Brothers at 1,285p, buy the recent weakness

Close Brothers (CBG) the small City banking, jobber (in smaller cap. shares under the Winterflood banner) and investment manager has just produced it close season trading statement, which surprised and pleased the market. In recent months the shares have been trading down; probably on the basis that that competition was increasing with the return of the poisoned legacy banks to more lending (e.g. RBS) and the growth of new lenders giving the UK banking a greater, more diverse and competitive market. The share price, last seen, was 1302p having come down from the last twelve month peak of 1503p, Over the year the share price rose 23% against the FTSE 100 Index rise of only 3.1%. After a period in the doldrums when the shares underperformed a sluggish market (up only 2% in the last six months) the share price is now perking up again.  

Close Brothers Group at 1,383p - hit resistance with good reason

There was an up-spurt of bullishness on bank shares in the thin market preceding the spring bank holiday. That included a surge in the price of Close Brothers Group (CBG) a small-cap (£2 billion) financial operation that consists of what is primarily a trade finance bank, an asset management business and market maker in smaller equities – Winterferflood Securities. Can Close Brothers build on these gains?

Close Bros: something in the City with yield

As a result of a long and recent history and despite the fact that London is a uniquely large banking and financial services centre, the investor has not got many conventional banking equity investment targets at the moment. Fortunately, that does include two banks HSBC and Standard and Chartered Bank, which remained sufficiently true to their banking inheritances to come through the great banking collapse without government assistance to provide UK investors with a direct means of investing in the growing Asian Pacific economies.