URL has been copied successfully!
Specialist lender says it expects its slice of £9.1bn compensation set by FCA to be about £320m
Close Brothers shares surged on Wednesday after the UK bank declared it could “comfortably absorb” its slice of a £9.1bn compensation bill over the motor finance scandal, hours after one of its rivals announced it was selling its UK operations over looming costs.
The specialist lender said it expected the final terms of the Financial Conduct Authority’s (FCA) compensation scheme to cost roughly £320m, a sum that is “broadly similar” to previous estimates and the £294m put aside to date.
Please follow us:
This post was originally published here