Close Brothers Group plc (CBG.L), Thursday announced that it is considering the potential impact and implications of the proposed redress scheme in respect of motor finance commissions.
While the assessment is still going on, the initial data reveals that if implemented in its current form, the proposed scheme is likely to result in a material increase in its existing provision of 165 million pounds.
Meanwhile, the group remains confident in its capital strength, with a Common Equity Tier 1 ratio of 13.8 percent at 31 July 2025, significantly above the company's applicable requirement of 9.7 percent.
Currently, CBG is moving down 10.57 percent, to 468.80 pence on the London Stock Exchange.
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May 22, 2026 14:46 ET Minutes of the latest Fed policy session was the highlight of the week along with survey data on the U.S. housing market. In Europe, survey data signaled the trends in the euro area private sector. Further, consumer price inflation data from the U.K. was in focus. In Asia, various economic indicators from China drew attention to the health of the economy.