Close Brothers Group plc (CBG) Q2 2026 Earnings Call

Investor webinar replay

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Replay transcript excerpt

WEBVTT 00:00:00.824 -- 00:00:06.170 Good morning and welcome to the presentation of our 2026 first half results 00:00:06.170 -- 00:00:11.377 and business update. It's great to see a number of you here in person today and thank 00:00:11.377 -- 00:00:15.201 you to all who have dialled into the webcast too. 00:00:15.201 -- 00:00:20.247 I will start by giving a brief update and will then hand over to Fiona who 00:00:20.247 -- 00:00:23.071 will cover the results in detail. 00:00:23.071 -- 00:00:28.482 We will then hold a short Q&A session on the results followed by a break. 00:00:28.482 -- 00:00:33.771 At 10.15 we will reconvene together with our three divisional chief executives 00:00:33.771 -- 00:00:39.581 for a more detailed update on the business, strategy and market opportunity 00:00:39.581 -- 00:00:44.609 for each of our divisions and also share some further detail with you on our 00:00:44.609 -- 00:00:48.375 current transformation and cost programme. 00:00:48.375 -- 00:00:53.761 There will be plenty of time for additional questions at the end of the business update. 00:00:53.761 -- 00:00:58.127 Before we get into the details of the half-year results, I'd like to address the publication 00:00:58.127 -- 00:01:02.472 of a research report yesterday by Viceroy Research. 00:01:02.472 -- 00:01:07.278 Close Brothers strongly disagrees with the report, which relates to the company's approach 00:01:07.278 -- 00:01:12.305 to provisioning in respect of motor finance commissions and resulting impact 00:01:12.305 -- 00:01:14.585 on its capital position. 00:01:14.585 -- 00:01:19.391 Our provisioning approach in relation to this matter is in accordance with UK adopted 00:01:19.391 -- 00:01:25.236 international accounting standards and follows a robust governance process. 00:01:27....