Close Brothers Group plc (CBG) Q2 2025 Earnings Call

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Replay transcript excerpt

WEBVTT 00:00:00.031 -- 00:00:06.299 Good morning and welcome to the presentation of Close Brothers 2025 half year results. 00:00:06.299 -- 00:00:10.906 It's an honor to present these results for the first time as the CEO following my appointment 00:00:10.906 -- 00:00:12.568 in January. 00:00:12.568 -- 00:00:16.593 I'll begin with an overview of the first six months of the financial year. 00:00:16.593 -- 00:00:22.778 Then I'll provide an update on my priorities and recent developments in motor finance. 00:00:22.778 -- 00:00:27.943 After that, I will hand over to Fiona McCarthy, our Group CFO. 00:00:27.943 -- 00:00:33.148 She has been with us for almost six years and has done an excellent job overseeing 00:00:33.148 -- 00:00:39.475 the Group's financial planning and analysis function before her recent appointment. 00:00:39.475 -- 00:00:44.199 She'll walk you through our financial performance and then I'll return to update you 00:00:44.199 -- 00:00:49.022 on the businesses and wrap up on today's presentation. 00:00:49.053 -- 00:00:54.199 We'll be happy to take questions afterwards, both via the telephone conference line and 00:00:54.199 -- 00:00:55.981 over the webcast. 00:00:55.981 -- 00:01:01.746 You can submit your questions either during or after the presentation. 00:01:02.850 -- 00:01:08.036 Our performance in half one reflects the strength and resilience of our business model. 00:01:08.036 -- 00:01:13.763 In banking, we delivered robust underlying profit, continuing to support our customers 00:01:13.763 -- 00:01:18.905 while maintaining strong margins and resilient credit quality. 00:01:18.905 -- 00:01:24.253 We have made significant progress on our cost management initiatives, which are now expected 00:01:24.253 -- 00:01:29.762 to deliver 25 million of annualized...