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Close Brothers Says Well Positioned To Continue Supporting Customers & Clients

Close Brothers Group Plc. (CBG.L) said that it is well positioned to continue supporting its customers and clients in a wide range of market conditions, despite the UK economic outlook remains uncertain.

In its trading update for the first quarter ended 31 October 2019, the company said its performance in the quarter reflected lower activity levels across markets, and it continued to focus on the disciplined application of business model.

In the Banking division, the loan book increased 0.9% in the quarter to 7.7 billion pounds, predominantly driven by Commercial, while Retail and Property remained broadly flat.

The Asset Management division reported strong net inflows, with managed assets growing to 11.9 billion pounds and an increase in total client assets to 13.4 billion pounds,in line with growth strategy.

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