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Close Brothers ramps up cost cutting after posting another lossClose Brothers has revealed plans to strip out more than another £60 million in annual costs amid plans to continue ramping up the use of artificial intelligence (AI). The banking group said it cut annual costs by around £36 million in the year to July 31 – far more than the £25 …uk.finance.yahoo.com · Sep 29, 2026

BMW facing £600m hit from car mis-selling scandalBMW said the final cost of the scandal could be 'materially different' as a result of the legal challenge - Getty /Sopa BMW is facing a bill of more than £600m from the motor finance mis-selling scandal, marking one of the biggest hits faced by any lender. In newly filed accounts…uk.finance.yahoo.com · Sep 22, 2026

BMW facing £600m hit from car mis-selling scandalBMW said the final cost of the scandal could be 'materially different' as a result of the legal challenge - Getty /Sopa BMW is facing a bill of more than £600m from the motor finance mis-selling scandal, marking one of the biggest hits faced by any lender. In newly filed accounts…finance.yahoo.com · Sep 22, 2026

Close Brothers accelerating cost cuts as motor finance bill mountsClose Brothers is speeding up cost cutting to help narrow losses after setting aside another £30 million to cover mounting costs of the motor finance scandal. The banking group confirmed its total provision for the car finance redress scheme increased to £320 million following th…uk.finance.yahoo.com · May 21, 2026

How The Close Brothers Group (LSE:CBG) Narrative Is Shifting With The New £5.29 Fair ValueMake better investment decisions with Simply Wall St's easy, visual tools that give you a competitive edge. The fair value price target for Close Brothers Group has shifted from £5.22 to £5.29, giving you an updated reference point for how analysts are framing the shares today. T…finance.yahoo.com · Apr 13, 2026

Close Brothers says £320m car finance hit can be ‘comfortably absorbed’Close Brothers has said it can “comfortably” swallow up costs of around £320 million to compensate people mis-sold a car loan, sending its share price up sharply. Shares in the lender were up by nearly a fifth on Wednesday morning after telling investors that its provision for th…uk.finance.yahoo.com · Apr 8, 2026

Car finance lenders shares rise after industry bill for redress cut by £2bnShares in major motor finance lenders have risen after the UK watchdog finalised its compensation scheme, which has seen the total bill for the industry cut by about £2 billion. Lloyds Banking Group and Close Brothers were among the lenders to say they were assessing the details …uk.finance.yahoo.com · Mar 31, 2026

Close Brothers Group H1 Earnings Call HighlightsClose Brothers Group logo Close Brothers Group (LON:CBG) used its 2026 first-half results presentation and business update to highlight what management described as resilient underlying performance, a strengthened capital position, and an accelerated transformation program aimed …finance.yahoo.com · Mar 17, 2026

Close Brothers to cut 600 jobs amid warnings of ‘wipeout’ from car finance scandalThe warning stated that the compensation payouts would put Close Brothers at risk of regulatory intervention - Jose Sarmento Matos/Bloomberg Finance LP Close Brothers has unveiled plans to cut 600 jobs, less than 24 hours after a short-seller warned that the UK bank could face a …finance.yahoo.com · Mar 17, 2026

Close Brothers to cut almost quarter of workforce in wake of car finance scandalAround 600 jobs are being axed at Close Brothers as the banking group ramps up cost cutting after posting further losses in the face of a mounting compensation bill for the motor finance scandal. The firm said the cuts – nearly a quarter of its 2,600-strong workforce – would be m…uk.finance.yahoo.com · Mar 17, 2026

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