Group financial overview
Close Brothers operates through three divisions: Banking, Securities and Asset Management. Below is a summary of the group’s financial performance over the last three years including an overview of our divisions.
|Adjusted operating profit (£m)1||233.6||224.9||193.7|
|Operating profit before tax (£m)||228.5||219.9||188.8|
|Basic EPS (p)||125.7||117.8||98.4|
|Adjusted basic EPS (p)||128.4||120.5||101.0|
|Total equity (£m)||1.1||1.0||0.9|
|Total assets (£bn)||8.7||8.0||7.7|
|Common equity tier 1 capital ratio||13.5%||13.7%||13.1%|
|Return on opening equity||18.9%||19.5%||17.9%|
1 The disposal of Close Brothers Seydler was completed on 5 January 2015. The profit on disposal of £10.3 million and profit after tax of £0.9 million have been classified as discontinued operations and the 2014 results have been restated.
Close Brothers has a financial year end of 31 July.
Close Brothers’ Banking division provides lending to small businesses and individuals, with an emphasis on specialist finance. We also offer deposit taking services to UK businesses and individuals.
The division has three lending business units: Retail, Commercial and Property. Treasury manages our overall funding and liquidity requirements.
|The latest financial results are:||2016||2015||2014|
|Operating income1 (£m)||511.2||481.9||446.7|
|Adjusted operating profit (£m)||223.0||208.7||181.6|
|Closing loan book (£m)||6,431.6||5,737.8||5,289.7|
1 As announced on 13 September 2016, operating income has been adjusted to deduct depreciation of operating lease assets. Operating income in 2015 has been re-presented accordingly.
|26 November 2015||Investor Presentation: Banking Division||Presentation PDF||Webcast Link||Script PDF|
In Securities, we provide trading services in the UK through Winterflood, a leading market-maker.
|The latest financial results1 are:||2016||2015||2014|
|Operating income (£m)||82.3||94.6||96.1|
|Operating profit (£m)||19.0||24.6||26.6|
1 The disposal of Close Brothers Seydler was completed on 5 January 2015. The operating profit in 2014 (£6.9 million) and 2015 (£1.3 million) and profit on disposal of £10.3 million have been classified as discontinued operations. Operating profit in 2015 is up until the point of disposal.
Close Brothers Asset Management provides a range of financial advice, investment management and on-line investing services, helping clients to secure their financial future.
|The latest financial results are:||2016||2015||2014||2013|
|Operating income (£m)||92.3||95.6||84.4||78.1|
|Adjusted operating profit (£m)||14.4||17.8||9.9||4.0|
|Total client assets (£m)||9,901||10,793||9,705||9,080|