Close Brothers Group (CBG) Q3 2026 TU earnings summary

Executive summary

• Delivered solid Q3 performance, progressing on strategic objectives during a transitional year.

• Strong capital position maintained after absorbing additional motor finance commission provision.

Financial highlights

• Loan book increased 1% in the quarter to £9.3bn; underlying growth 2%.

• Annualised year-to-date net interest margin at 7.0% (H1 2026: 7.1%), expected slightly below 7% for FY26.

• Annualised year-to-date bad debt ratio steady at 0.8%, expected to remain below long-term average of 1.2%.

• Adjusted operating expenses expected below previous guidance of £450m for FY26.

• Additional £30m income statement charge for motor finance commission provision in Q3.

Outlook and guidance

• On track to deliver FY26 in line with guidance, subject to macroeconomic developments.

• Net interest margin expected slightly below 7% for FY26.

• Group operating loss expected at lower end of £45-50m guidance range.