Close Brothers faces renewed scrutiny over cost-to-income targets [Yahoo! Finance]
CLOSE BROS GRP UNSP/ADR (CBGPY)
NASDAQ:AMEX Investor Relations:
closebrothers.com/investor-relations
Company Research
Source: Yahoo! Finance
on the bank to accelerate cost reductions as uncertainty over motor finance redress continues, City AM reports. According to RBC Capital Markets analysis cited by City AM, Close Brothers reported a cost-to-income ratio of around 70 per cent, the highest among a group of listed UK mid-cap lenders. This compares with roughly 63 per cent at Metro Bank, while specialist lenders OSB and Paragon reported materially lower ratios of 39 per cent and 36 per cent respectively. RBC said the comparison underlines a structural cost issue at Close Brothers, particularly as the bank faces elevated provisions and regulatory uncertainty in its motor finance division, which accounts for about 20 per cent of its £9.5bn loan book. At its 2025 full-year results, Close Brothers said it had delivered £25m of annual cost savings and identified a further £20m per year over the following three years. However, RBC said these measures “fell short” of what could be achieved, estimating that the bank could re
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