Close Brothers

What Close Brothers does

Close Brothers Group plc is a UK-based specialist merchant banking group founded in 1879 and listed on the London Stock Exchange (ticker: CBG) since 1984, operating from its London headquarters (10 Crown Place, EC2A 4FT) with additional offices across the UK (East Kilbride, Livingston, Edinburgh) and Ireland. The group serves UK small and medium-sized enterprises and individual consumers through three core divisions: Lending (asset finance, property finance, commercial finance, invoice finance, aviation and marine finance, beverage finance, and premium finance), Customer Finance (motor finance via UK dealer and broker channels plus Ireland operations), and Savings (deposit products for retail and institutional customers). Securities trading and market-making are provided through the Winterflood Securities subsidiary.

Revenue mechanics combine asset-backed lending net interest income (secured loans across diverse asset classes including vehicles, property, invoices, plant, and equipment), retail and institutional deposit funding spreads, and Winterflood transaction-based trading fees. Distribution is hybrid: a direct sales force of relationship managers serving SMEs in specialist niches is supplemented by broker and intermediary channels (motor dealers, insurance brokers, finance brokers), with a self-serve digital banking platform for motor finance and savings customers.

The business model is presently under acute stress from the FCA-led motor finance consumer redress scheme (estimated cost approximately £320m across roughly 720,000 historical loans, April 2007 to November 2024), which has driven a £65.5m H1 FY2026 pre-tax loss, a £300m+ provision build, a ~20% workforce reduction (600 jobs) targeting £85m annualised savings by FY2027, and disposal of non-core assets including Close Asset Management and the Vehicle Hire division. Dividend reinstatement is explicitly contingent on compensation programme clarity. Market capitalisation sits at approximately £655-660m.

Name

Close Brothers

Legal name

Close Brothers Group plc

Website

https://closebrothers.com

Company type

Public

Founded year

1879

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Close Brothers Group plc is a UK specialist merchant banking group providing asset-backed lending, deposit-taking, and securities trading to small and medium-sized enterprises and individuals across the UK and Ireland. Founded in 1879 and listed on the LSE since 1984, it operates through specialist divisions including Asset Finance, Property Finance, Invoice Finance, Motor Finance, Savings, and Winterflood Securities.

Ownership category

akta.pro rank

Product category

Specialist Banking

NAICS

Depository Credit Intermediation (5221), Investment Banking and Securities Intermediation (52315), Mortgage and Nonmortgage Loan Brokers (522310)

SIC

Mortgage Bankers & Loan Correspondents (6162), Personal Credit Institutions (6141), Savings Institution, Federally Chartered (6035), Security Brokers, Dealers & Flotation Companies (6211)

akta.pro primary industry

Middle-Market Lending (FSANADAI)

Keywords

• Specialist lending
• Asset finance
• Motor finance
• Invoice discounting
• Merchant banking

Headquarters

HQ city

London

HQ country

United Kingdom

HQ region

Europe

Offices5 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Others

Revenue model

1. Lending Interest Income: Interest income from asset-backed lending including property finance, asset finance, invoice finance, motor finance, and specialty lending. The company provides secured loans to SMEs and individuals.
2. Deposit Taking: Retail and commercial deposits from UK businesses, institutions and individuals, providing funding for lending activities.
3. Securities Trading: Winterflood Securities provides securities trading and market-making services.

Go-to-market motion2 records

Distribution channels5 records

Marketing channels6 records

Core offering

Close Brothers is a UK merchant banking group providing lending, deposit taking, wealth management services, and securities trading. It operates a portfolio of specialist lending businesses offering asset-backed finance including property finance, asset finance, invoice finance, motor finance, premium finance, and aviation & marine finance to UK SMEs and individuals, funded by retail and commercial deposits. Winterflood Securities provides securities trading and market-making services.

Product overview

Close Brothers is a UK-based merchant banking group operating as a platform of specialist lending and deposit-taking businesses. The company offers a diversified portfolio of financial products through multiple divisions including Asset Finance, Aviation & Marine, Beverage Finance, Broker Solutions, Commercial Finance, Invoice Finance, Motor Finance (UK and Ireland), Premium Finance, Property Finance, and Savings. The business model focuses on niche lending markets, providing asset-backed lending and deposit services primarily to SMEs and individuals. The company has been restructuring, cutting approximately 600 jobs (20% of workforce) as part of cost-reduction measures amid the FCA motor finance redress scheme.

Differentiator

Problem solved

Functional benefit

Brands

• Close Brothers Asset Finance: Commercial asset financing, hire purchase and leasing solutions
• Close Brothers Property Finance
• Close Brothers Invoice Finance
• Close Brothers Savings
• Braemar Finance
• Winterflood Securities

Products and services

• Asset Finance Provides commercial asset financing, hire purchase and leasing solutions for diverse assets and sectors, supporting SME commercial growth ambitions.
• Aviation & Marine Finance Specialist lending solutions for the aviation and marine sectors, providing asset-backed financing for aircraft and vessels.
• Beverage Finance Specialist finance solutions for the beverage industry, including distilleries and breweries, supporting growth and equipment acquisition.
• Braemar Finance Specialist lending services operating as a sub-brand under the Close Brothers network.
• Broker Solutions Provides financial solutions through broker distribution channels, supporting intermediaries in offering financing options to end customers.
• Commercial Acceptances Provides commercial acceptance services supporting business transactions and trade finance.
• Commercial Finance General commercial lending solutions for businesses, providing financing across various sectors and purposes.
• Invoice Finance Provides debt factoring, invoice discounting and asset-based lending services working with over 2,000 small businesses.
• Motor Finance - UK Provides motor vehicle financing solutions through dealers and brokers in the UK market, including car loan products and dealer financing.
• Motor Finance - Ireland Motor finance services operating in the Republic of Ireland, providing vehicle financing solutions through dealer networks.
• Premium Finance Finance solutions for premium/insurance products, working with insurance brokers to provide flexible payment options for premium financing.
• Property Finance Bespoke finance solutions for experienced property developers and commercial landlords for acquisition, refinance and development of residential and commercial buildings throughout England, Scotland and Wales.
• Savings Range of specialist deposit products providing UK businesses, institutions and individuals with competitive interest rates and personal service, including fixed-term savings accounts.
• Winterflood Securities Provides securities trading and market-making services through Winterflood Securities Limited.

Named customers13 records

Segments5 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration6 records

Partnerships

Nine partnerships are on record, tiered minor and core.

• upReachminorStrategic or Co-development Partner · 1 January 2024Partnership with upReach to provide summer internship programme. In 2025, welcomed 22 summer interns through the partnership supporting students from underrepresented backgrounds.
• Make-A-Wish FoundationminorOthers · 1 January 2019Partnership since 2019 has helped grant 141 magical wishes for critically ill children and their families by donating over £283,000. Funds have supported furnishing wish rooms, games consoles for hospitals, tablets, and specialist bikes.
• Moving AheadcoreStrategic or Co-development Partner · 1 January 2017Eight-year partnership delivering cross-company mentoring programmes for women and minority groups through Mission Gender Equity and Mission Include programmes. To date, 233 colleagues supported on Mission Gender Equity and 109 on Mission Include.
• British Business BankcoreStrategic or Co-development PartnerClose Brothers maintains ongoing positive dialogue with the British Business Bank and is dedicated to identifying solutions for SMEs aligned with the goals of British Business Bank programmes. The BBB programmes help growing businesses understand and discover different finance options.
• AMRC (Advanced Manufacturing Research Centre) at University of SheffieldcoreStrategic or Co-development PartnerPartnership since 2015 to deliver the Close Brothers SME Apprenticeship Programme. Close Brothers helps fund apprentice qualifications for SMEs in manufacturing and transport sectors. Apprentices learn at AMRC and work with employers.
• Partnership for Carbon Accounting Financials (PCAF)minorStrategic or Co-development PartnerClose Brothers is a member of PCAF, working with peer banks to develop best practice data sourcing and carbon accounting for financing activities.
• StonewallcoreOthersAchieved Champion Employer status under Stonewall Proud Employers accreditation programme, recognising organisations committed to creating inclusive workplaces for LGBTQ+ colleagues.
• The Not Forgotten AssociationminorOthersVeterans Network partnership supporting veterans dealing with loneliness and isolation. 2024 Movement Challenge raised £2,792 for the charity.
• Carbon TrustminorStrategic or Co-development PartnerReference to Carbon Trust's Carbon Footprint Calculator for SME customers to measure and track carbon emissions.

Scale indicators18 records

Recent moves8 records

Expansion highlights5 records

Direct peers

• Shawbrook Bank: UK specialist challenger bank focused on SME lending, property finance and asset finance; closest direct comparable to Close Brothers' specialist lending model, serving similar SMEs and developers.
• Aldermore Bank: UK challenger bank providing asset finance, invoice finance, property finance and savings to SMEs and consumers; directly overlaps Close Brothers' specialist banking divisions.
• OSB Group (OneSavings Bank / Kent Reliance): UK specialist lender and savings bank with Buy-to-Let, residential, commercial and asset finance lending; competes head-to-head in specialist lending and deposit-taking against Close Brothers.
• Paragon Banking Group: UK specialist bank focused on buy-to-let mortgages, commercial lending and consumer finance; operates a similar specialist lending and savings model to Close Brothers with comparable channel mix.
• Secure Trust Bank: UK specialist bank offering SME asset finance, motor finance and consumer lending; mirrors Close Brothers' diversified specialist book with retail deposits.
• Arbuthnot Latham: UK private and specialist banking group with relationship-led lending to SMEs, property developers and high-net-worth individuals; similar niche focus and relationship model to Close Brothers.
• Peel Hunt: UK securities broker and investment bank providing market-making and trading services; directly comparable to Winterflood Securities, Close Brothers' market-making subsidiary.

Broad incumbents

• Metro Bank: UK challenger retail and commercial bank; broader incumbent with deposit-taking and SME lending, but less specialist than Close Brothers in niche lending verticals.
• Investec Bank plc (UK): UK private bank and wealth manager with corporate lending, property finance and asset finance capabilities; overlaps specialist lending but operates as a larger incumbent across multiple geographies.
• Handelsbanken UK: UK branch network of Swedish bank focused on relationship-led commercial and property lending to SMEs; competes in Close Brothers' property and SME finance segments from a broader parent balance sheet.

Market position

Strengths5 records

Weaknesses3 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/CloseBrothers
• LinkedInlinkedin.com/company/15149

Compliance12 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Subsidiaries6 records

Funding overview

Funding rounds2 records

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments5 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Close Brothers