LONDON (dpa-AFX) - Close Brothers Group plc (CBG.L), on Wednesday, issued a
trading update for the third quarter of its 2024 financial year and reported
that Q3 performance reflected continued loan book growth, strong margins, and
resilient credit quality in Banking.

In Banking, the loan book experienced a 1.5% increase in the quarter and a 5.4%
rise year-to-date, reaching £10.0 billion. This growth was primarily driven by
strong customer demand in the Property sector and continued expansion in the UK
Motor Finance and Invoice Finance loan books.

Close Brothers Asset Management or CBAM delivered strong year-to-date annualised
net inflows of 9% and continued to attract new client assets, further building
on its track record of growth.

Winterflood's performance, on the other hand, was still affected by reduced
investor appetite; however, trading conditions slightly improved in the quarter,
resulting in an operating profit of £1.7 million in Q3 2024, compared to the
previous year's £1.2 million.

Adrian Sainsbury, Chief Executive Officer, said, 'Notwithstanding moderation in
some of our businesses, due to seasonality and selective loan book actions we
identified at the Half-Year 2024 results, we are encouraged by the ongoing
strength in overall customer demand and continue to focus on providing excellent
service to our customers. CBAM delivered strong net inflows and Winterflood's
performance benefited from marginally improved market conditions in the
quarter.'



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