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Group financial highlights

Financial highlights for the year ended 31 July 2022

Adjusted1 operating profit

£234.8m

2021: £270.7m

Adjusted1 basic earnings per share

111.5p

2021: 140.4p

Return on opening equity2

10.6%

2021: 14.5%

Ordinary dividend per share3

66.0p

2021: 60.0p

Loan book4

£9.1bn

2021: £8.7bn

Total client assets

£16.6bn

2021: £17.0bn

 

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.

 

  2022 2021

2020

Adjusted1 operating profit (£m)

234.8 270.7

144.0

Operating profit before tax (£m)

232.8 265.2

140.9

Basic EPS (p)

110.4 134.8

72.8

Adjusted1 basic EPS (p)

111.5 140.4

74.5

DPS (p)

66.0 60.0

40.0

Total equity (£bn)

1.7 1.6

1.4

Total assets (£bn)

12.7 12.0

11.1

Common equity tier 1 capital ratio

14.6% 15.8%

14.1%

Return on opening equity

10.6% 14.5%

8.0%

 

Close Brothers has a financial year end of 31 July.

Banking

Close Brothers’ Banking division provides lending predominantly 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 segments: Commercial, Retail and Property. Treasury manages our overall funding and liquidity requirements.

 

Financial overview

2022 2021

2020

Operating income (£m)

693.1 631.7

586.0

Adjusted1 operating profit (£m)

227.2 212.5

99.2

Closing loan book4 (£m)

9,098.9 8,667.4 7,838.6

 

Asset Management

Close Brothers Asset Management provides a range of financial advice, investment management and online investing services, helping clients to secure their financial future.

 

Financial overview

2022 2021

2020

Operating income (£m)

148.0 139.4

128.2

Adjusted1 operating profit (£m)

21.7 23.7

20.4

Total client assets (£m)

16,574 17,023

13,712

 

Securities

In Securities, we provide trading services in the UK through Winterflood, a leading market-maker.

 

Financial overview

2022 2021

2020

Operating income (£m)

95.2 182.0

151.9

Operating profit (£m)

14.1 60.9

47.9

1 Adjusted measures are presented on a basis consistent with prior periods and exclude amortisation of intangible assets on acquisition, to present the performance of the group’s acquired businesses consistent with its other businesses, and any exceptional and other adjusting items which do not reflect underlying trading performance. 
2 Adjusted operating profit attributable to shareholders divided by opening equity, excluding non-controlling interests.
3 Represents the final dividend proposed for the respective years together with the interim dividend declared and paid in those years. 
 Loan book includes loans and advances to customers and operating lease assets.