LONDON (dpa-AFX) - Close Brothers Group plc (CBG.L) Wednesday issued trading update related to the third quarter ended April 30.
'We performed well in the third quarter, with loan book growth accelerating, a strong net interest margin and stable credit performance in Banking. The Asset Management division delivered increased net inflows, although trading activity remained subdued in Winterflood,' said Adrian Sainsbury, Chief Executive Officer.
In Banking, the company said its loan book increased 2.0% to 9.2 billion pounds in the quarter, and net interest margin remained at 7.8%, same as last year. In the asset management division, managed assets increased to 16.1 billion pounds from 15.7 billion pounds.
Looking forward, Sainsbury said, 'We are seeing good demand in our Banking business and the consistent application of our model, combined with our strong financial position, enables us to continue supporting our customers and clients. Following a difficult first half, we are well placed to make the most of opportunities in the current environment.'
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