The Guardian ·

Close Brothers absorbs £320m FCA compensation charge

Capital buffers sufficient to cover motor finance liabilities

Capital Markets Financial Services
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Close Brothers confirmed it will absorb approximately £320 million in costs from the FCA’s motor finance compensation scheme using existing capital.
Why it matters
The bank avoids immediate capital raising or restructuring measures, maintaining lending capacity despite regulatory liabilities.
Implications
  • — Capital position stable — no immediate fundraising required
  • — Earnings impacted — profitability reduced

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