Close Brothers Group PLC (LSE:CBG)
£ 4.91 -0.15 (-2.96%) Market Cap: 738.89 Mil Enterprise Value: 1.59 Bil PE Ratio: 5.19 PB Ratio: 0.41 GF Score: 60/100
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Half Year 2019 Close Brothers Group PLC Earnings Call Transcript

Mar 12, 2019 / 09:30AM GMT
Release Date Price: £14.86 (+1.09%)
Per Preben Prebensen
Close Brothers Group plc - CEO & Director

Good morning, and welcome to the presentation of our 2019 first half results.

Mike Morgan, our Group Finance Director, will be taking you through our financial performance, after which I'll then provide an update on the group and each of our businesses.

We also have several colleagues here today, Adrian Sainsbury, who's the MD of our Lending Businesses; Martin Andrew, the Chief Executive of Asset Management; and Philip Yarrow, the Chief Executive of Winterflood. And as usual, we'll be happy to take your questions after the formal presentation. The group reported a solid performance in the first half, maintaining strong returns and profitability while staying true to our disciplined approach and commitment to investing through the cycle. We're pleased to be increasing the interim dividend by 5% to 22p. The Banking division delivered a strong net interest margin, low bad debt and continued loan book growth. This reflects the various contributions of our diverse portfolio of businesses. Asset Management continues to

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