Half Year 2024 Close Brothers Group PLC Earnings Call Transcript
Good morning, and welcome to the presentation of Close Brothers first half 2024 results. I'll start with a brief reflection on our performance in the first half. Mike will then cover our financials. I'll come back and talk about recent developments following the FCA's announcement of the review into motor finance and also our strategy update. At the end, we welcome your questions, which you can submit either via telephone conference slide or over the webcast either submitted during or after the presentation.
Our businesses delivered a resilient performance in the first half. In banking, the loan book increased 4% with disciplined growth across all businesses at strong margins of 7.5% and an improved credit performance. CBAM delivered net inflows of 9%, although Winterflood performance remains affected by weakness in retail trading activity. We maintained our strong balance sheet and conservative approach to managing our financial resources, a long-standing priority for us. Our CET1 capital ratio was 13%, significantly above our applicable
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