Close Brothers Sells Wealth Unit to Oaktree to Bolster Capital
WEB2 days ago · Photographer: Jason Alden/Bloomberg (Jason Alden/Bloomberg) (Bloomberg) -- Close Brothers Group Plc has agreed to sell its wealth unit to Oaktree Capital Management for an equity value of as much as £200 million ($265 million) as it looks to strengthen its balance sheet amid a regulatory review of its motor finance practices.
Close Brothers Group Full Year 2024 Earnings: EPS Misses …
WEB1 hour ago · Close Brothers Group EPS Misses Expectations. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 15%. Looking ahead, revenue is forecast to grow 2.2% ...
Close Brothers Operating Profit Rises, Sells Wealth ... - MarketWatch
WEB2 days ago · Close Brothers said operating pretax profit jumped in fiscal 2024, mainly on a fall in one-off charges and a increase in its loan book, and that it had sold its wealth-management business for ...
Close Brothers reports solid full-year growth - Sharecast.com
WEB2 days ago · Close Brothers Group reported a 1% increase in operating income to £944.2m in its preliminary full-year results on Thursday, ... Josh White Sharecast News . 19 Sep, 2024 08:24 19 Sep, 2024 08:04.
Close Brothers divests asset management division to Oaktree in ...
WEB2 days ago · Close Brothers has agreed to sell its wealth management division for up to £200m in a bid to bolster its capital position amid costs arising from a City watchdog review into unfair car loans. The FTSE 250 merchant bank announced that the sale of Close Brothers Asset Management (CBAM) to funds managed by Oaktree Capital Management is …
Close Brothers to Sell Wealth-Management Unit to Oaktree for …
WEB2 days ago · Close Brothers said then that it expected to boost its CET1 capital by around 400 million by the end of fiscal 2025 to July. ... Dow Jones Newswires is a market-moving financial and business news ...
Close Brothers faces uncertain future as FCA probe sparks crisis
WEBFeb 15, 2024 · Close Brothers, one of the UK’s oldest merchant banking groups, is in the throes of a crisis. Its shares collapsed on Thursday after it cancelled its dividend for the current financial year and...
Car finance scandal sparks £200m sale at UK bank - The Telegraph
WEB1 day ago · Growing uncertainty over the motor finance scandal has prompted a British merchant bank to sell its wealth business for £200m. Close Brothers, a lender dating from 1878, has agreed to sell its ...
Close Brothers launches £400mn capital plan in response to car …
WEBMar 19, 2024 · Close Brothers has announced a £400mn plan to bolster its capital position as it prepares for the impact of a regulatory probe into motor financing deals that analysts estimate could cost the...
Close Brothers suspends dividend on car finance probe - Financial Times
WEBFeb 15, 2024 · Close Brothers has suspended its dividend because of uncertainty about the impact of a regulatory probe into motor financing deals, as lenders struggle to quantify the likely impact of a review...