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Our businesses
Close Brothers is a UK specialist banking group providing lending and deposit taking. We employ approximately 2,600 people, principally in the United Kingdom and Ireland. Close Brothers Group plc is listed on the London Stock Exchange.
Commercial
Commercial lends to more than 28,000 small and medium-sized enterprises (“SMEs”) through our in-house teams, where loans are originated via our direct sales force or introduced by third-party distribution channels.
Asset Finance provides commercial asset financing, hire purchase and leasing solutions for a diverse range of assets and sectors.
Invoice and Speciality Finance works with small businesses to provide debt factoring, invoice discounting and asset-based lending.
Retail
Retail provides finance to individuals and businesses through a network of intermediaries.
Motor Finance provides several products at point of sale in a dealership, or online via a broker, which allow consumers to buy vehicles from over 4,250 retailers in the UK and 650 retailers in Ireland.
Premium Finance works with c.1,300 insurance brokers in the UK and Ireland and helps make insurance payments more manageable for people and businesses, by allowing them to spread the cost over fixed instalments.
Property
Property provides residential development finance, bridging finance and commercial development loans to experienced property developers and investors across mainland UK and Northern Ireland, through its two brands, Close Brothers Property Finance and Commercial Acceptances.
The Property business lends to c.700 professional property developers with a focus on small to medium-sized residential developments.
Commercial Commercial Commercial lends to more than 28,000 small and medium-sized enterprises (“SMEs”) through our in-house teams, where loans are originated via our direct sales force or introduced by third-party distribution channels.
Asset Finance provides commercial asset financing, hire purchase and leasing solutions for a diverse range of assets and sectors.
Invoice and Speciality Finance works with small businesses to provide debt factoring, invoice discounting and asset-based lending.
Retail Retail Retail provides finance to individuals and businesses through a network of intermediaries.
Motor Finance provides several products at point of sale in a dealership, or online via a broker, which allow consumers to buy vehicles from over 4,250 retailers in the UK and 650 retailers in Ireland.
Premium Finance works with c.1,300 insurance brokers in the UK and Ireland and helps make insurance payments more manageable for people and businesses, by allowing them to spread the cost over fixed instalments.
Property Property Property provides residential development finance, bridging finance and commercial development loans to experienced property developers and investors across mainland UK and Northern Ireland, through its two brands, Close Brothers Property Finance and Commercial Acceptances.
The Property business lends to c.700 professional property developers with a focus on small to medium-sized residential developments.
Business model
Close Brothers has a proven and resilient business model, delivering excellent service in specialist sectors we know and understand.
Our strategy
Building on our proven business model and strong customer relationships to deliver attractive returns over the long term.
Simplify
An in-depth review and repositioning of our portfolio of businesses has sharpened our focus on specialist banking.
Simplified group structure
- During the last year, we have sold Close Brothers Asset Management, Winterflood and the Brewery Rentals business.
- This simplifies our portfolio and allows us to focus on the core lending businesses, where we can leverage our expertise and deliver growth and sustainable returns.
- We have settled the long-standing litigation issued by Novitas, allowing us to move forward and exit from this business.
Realignment of existing activities with core business model
- During the 2025 financial year, we have repositioned our Premium Finance business to focus on commercial lines.
- We sold our Brewery Rentals business and decided to exit our Vehicle Hire business.
- These actions have created a portfolio of businesses with a strong strategic fit. We are confident in the enduring growth opportunity across our core markets, focusing on areas that offer attractive risk-adjusted returns.
Optimise
Implementing a step-change in operating profitability.
Group-wide cost reduction actions
- An in-depth review of costs across the group will create a more efficient organisation.
- We delivered £25 million of annualised cost savings by the end of the 2025 financial year through streamlining of our technology, suppliers, property and workforce.
- We are committed to delivering at least c.£20 million of additional annualised savings per annum in each of the next three years, through further consolidation of centrally provided functions, outsourcing and offshoring, and the simplification and rationalisation of technology, including automation and the use of artificial intelligence.
A leaner, more agile organisation well positioned for the future
- We continue to build on the progress from our technology transformation, initiated in 2023, focused on simplifying and modernising our technology estate, as well as consolidating and increasing our use of strategic partners. This has helped create a more digitally enabled and agile IT environment that is secure, resilient and sustainable.
- In parallel, we are actively evaluating opportunities to optimise capital, funding and liquidity.
Grow
Using our strong market positions, reputation and specialist expertise to target growth in the segments where we can truly differentiate.
We are actively pursuing targeted growth opportunities in our chosen markets which offer attractive risk-adjusted returns
- In Commercial, there are significant opportunities to expand lending in a number of our mature businesses, especially Invoice Finance, Energy, and intermediated Asset Finance.
- We are expanding distribution in Motor Finance through growth in the Irish market, and with larger partners and brokers.
- We have a renewed focus on growing our commercial lines business in Premium Finance.
Expanding our product offering to target new areas of growth
- Motor Finance is targeting opportunities through digitisation, and has expanded its offering to Alternative Fuel Vehicles (“AFVs”) to access the rapidly growing market of second-hand EVs and hybrid vehicles.
- Commercial is expanding into adjacent products, such as commercial mortgages, and is focused on scaling new, specialist teams such as agriculture.
- Property Finance is broadening its product offering, moving into larger build-to-sell loans and additional asset classes, such as build-to-rent and purpose-built student accommodation.
Simplify Simplify
An in-depth review and repositioning of our portfolio of businesses has sharpened our focus on specialist banking.
Simplified group structure
- During the last year, we have sold Close Brothers Asset Management, Winterflood and the Brewery Rentals business.
- This simplifies our portfolio and allows us to focus on the core lending businesses, where we can leverage our expertise and deliver growth and sustainable returns.
- We have settled the long-standing litigation issued by Novitas, allowing us to move forward and exit from this business.
Realignment of existing activities with core business model
- During the 2025 financial year, we have repositioned our Premium Finance business to focus on commercial lines.
- We sold our Brewery Rentals business and decided to exit our Vehicle Hire business.
- These actions have created a portfolio of businesses with a strong strategic fit. We are confident in the enduring growth opportunity across our core markets, focusing on areas that offer attractive risk-adjusted returns.
Optimise Optimise
Implementing a step-change in operating profitability.
Group-wide cost reduction actions
- An in-depth review of costs across the group will create a more efficient organisation.
- We delivered £25 million of annualised cost savings by the end of the 2025 financial year through streamlining of our technology, suppliers, property and workforce.
- We are committed to delivering at least c.£20 million of additional annualised savings per annum in each of the next three years, through further consolidation of centrally provided functions, outsourcing and offshoring, and the simplification and rationalisation of technology, including automation and the use of artificial intelligence.
A leaner, more agile organisation well positioned for the future
- We continue to build on the progress from our technology transformation, initiated in 2023, focused on simplifying and modernising our technology estate, as well as consolidating and increasing our use of strategic partners. This has helped create a more digitally enabled and agile IT environment that is secure, resilient and sustainable.
- In parallel, we are actively evaluating opportunities to optimise capital, funding and liquidity.
Grow Grow
Using our strong market positions, reputation and specialist expertise to target growth in the segments where we can truly differentiate.
We are actively pursuing targeted growth opportunities in our chosen markets which offer attractive risk-adjusted returns
- In Commercial, there are significant opportunities to expand lending in a number of our mature businesses, especially Invoice Finance, Energy, and intermediated Asset Finance.
- We are expanding distribution in Motor Finance through growth in the Irish market, and with larger partners and brokers.
- We have a renewed focus on growing our commercial lines business in Premium Finance.
Expanding our product offering to target new areas of growth
- Motor Finance is targeting opportunities through digitisation, and has expanded its offering to Alternative Fuel Vehicles (“AFVs”) to access the rapidly growing market of second-hand EVs and hybrid vehicles.
- Commercial is expanding into adjacent products, such as commercial mortgages, and is focused on scaling new, specialist teams such as agriculture.
- Property Finance is broadening its product offering, moving into larger build-to-sell loans and additional asset classes, such as build-to-rent and purpose-built student accommodation.
