Close Brothers has provisioned a total of £320m for the FCA's motor finance redress scheme and paid no final Dividend for FY2026, according to results on 29 September 2026. Its AGM notice followed on 16 October, and the shares were 389.60p on 2 November.

What happened

Close Brothers (ticker: CBG) is a constituent of the FTSE All-Share index in the banks sector. No results were released today, and the latest filing we saw was a director or senior manager notice on 21 October. The preliminary results of 29 September are the most recent full financial update.

According to an AI-generated summary on, the group added £165m to its provision for the motor finance consumer redress scheme, taking the total to £320m. It reported a statutory operating loss before tax of £60.3m for the year to 31 July 2026, narrower than the £122.4m loss a year before.

The Loan book was about £9.5bn, flat over the year, with underlying growth resuming in the second half and all divisions growing in the final quarter. The CET1 Capital ratio was 14.1%, described as notable and leaving capacity for regulatory change and growth.

On costs, the group reported £36m of annualised savings, ahead of schedule. It also said it was confident of meeting a 5% to 10% annual growth target. The summary does not say what that target measures in detail, so readers should check the original statement.

Why it matters for investors

The redress provision is the central issue for this bank. On our arithmetic, the £320m total is more than half of the £587.2m Market Value shown on 2 November, and the £165m added this year accounts for more than the whole of the reported statutory loss.

That means the underlying picture and the headline loss are telling different stories, in our analysis, though we cannot quantify the adjusted result because the summary does not give it. The scale of provisioning also helps put the absence of a final dividend in context. The market data page showed a Yield of 0.00%.

The capital ratio is what links those two themes. A CET1 ratio of 14.1% gives investors a benchmark for whether further regulatory cost can be absorbed and when payouts might return. The results as summarised do not set a date for resuming dividends.

The Annual Report and Pillar 3 disclosures, filed on 2 October, provide further detail that we have not reviewed.

How the shares have performed

The market data page, last updated on 2 November, showed 389.60p, up 10.20p or 2.69%, within a day's range of 375.00p to 391.28p. We found no company announcement that day to explain the move.

The 52-week range was 318.40p, on 17 March 2026, to 556.15p, on 16 January 2026. That left the shares about 30% below the high and 22% above the low, by our calculation.

Director or senior manager shareholding notices were filed on 6, 7, 12, 15, 19 and 21 October. We did not read their contents, so we do not interpret them as a signal.

What to watch next

The AGM is the next scheduled event, and any trading statement made around it would give the first read on the new financial year. We could not confirm the date from the material retrieved.

The main questions are whether the £320m proves sufficient as the FCA scheme proceeds, whether loan growth continues, and what the board says about the conditions for restoring a dividend.