{
  "id": 10630661,
  "title": "Close Brothers reports FY26 loss, suspends dividend on motor-finance uncertainty",
  "url": "https://urgent.news/2026/09/29/close-brothers-reports-fy26-loss-suspends-dividend-on-motor-finance",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-29T06:51:51.000Z",
  "source": {
    "name": "Investing.com",
    "slug": "investing-com",
    "url": "https://www.investing.com/news/earnings/close-brothers-reports-fy26-loss-suspends-dividend-on-motorfinance-uncertainty-4921650"
  },
  "original_language": "en",
  "account": null,
  "summary": "Close Brothers (LON:CBRO) has reported a preliminary loss for fiscal 2026, with a £63.4 million loss attributable, compared to a £77.9 million loss in the previous year. The loss was mainly due to a large provision related to motor-finance commissions, which took the total provision to about £320 million at the year-end. The company also suspended its dividend for FY26, citing continued uncertainty surrounding legal challenges to the Financial Conduct Authority’s motor-finance consumer redress scheme. Despite the loss, Close Brothers remains committed to resuming shareholder distributions once there is greater clarity. On an underlying basis, the loan book rose 2% year over year and 4% in the second half, with all divisions delivering growth in the final quarter. For FY27, the bank expects underlying loan-book growth of 5%-10%, with adjusted operating expenses of about £430 million.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}