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Close Brothers Says Demand Robust In Its Core Markets In Q3

Close Brothers Group Plc (CBG.L), a British merchant banking group, said in a trading update on Friday that there has been a good momentum across its lending businesses with a robust demand in its core markets for the third quarter.

For three-month period to April, the lender's loan book moved up by 1.8 percent to 8.8 billion pounds, a 3.7 percent year-to-date growth. This reflected continued new business volumes in commercial and motor finance, and in property, loan book growth resumed, reflecting increased drawdowns from its strong pipeline.

The London-headquartered firm's Common Equity Tier 1 ratio was at 14.9 percent. In addition, the annualized year-to-date net interest margin was strong at 7.8 percent.

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