Full Year 2021 Close Brothers Group PLC Earnings Call Transcript
Good morning, and welcome to Close Brothers' Full Year 2021 Results Presentation. I'll start with some reflections on the key elements of our performance this year. I'll then hand over to Mike to talk through our financials and I'll come back to give an update on our business and strategy. You can ask a question at the end, either via the telephone conference line or alternatively via the webcast.
COVID-19 continued to present challenges and impact our customers and businesses in the last year. Against this backdrop, we delivered a strong financial and operational performance. Both income and preprovision profit were up by 10%. Adjusted operating profit increased by 88%, and we delivered a strong ROE of 14.5%, up from 8% in the prior year.
We delivered growth of 10.9% in our loan book, the fastest rate of growth since 2016 with a strong net interest margin of 7.7%. Impairment charges were down on the prior year, reflecting a strong underlying credit performance across the commercial, retail and property
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