Close Brothers plans job cuts after profits dented by motor finance hit

Close Brothers Group PLC (LSE:CBG) reported a narrower loss in the first half of its financial year as cost discipline and improving credit quality offset the continued drag from the motor finance commission scandal, while the group accelerated its cost-cutting programme. The specialist lender's adjusted operating profit fell 19% to £65.2 million for the six months to 31 January 2026, as a smaller loan book weighed on income.