Market share of new business for asset finance
at investment bank Close Brothers rose to 6% in 2010, its annual
report shows.

The report, for the year ended 31 July 2010,
shows an expansion of the asset finance loan book, up 26.5% from
£712m (€840.5) in 2009 to £900.8m in 2010.

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Its share of the used car independent
dealership market also rose from 5% to 9%, while invoice finance
rose to 13% of the independent market.

Overall pre-tax profits on continuing
operations at the bank were up 12%, from £88.3m in 2009 to £99.3m
in 2010.

Chief Executive Preben Prebensen said:
“Overall our businesses are well positioned for future growth
opportunities.”

Claire
Hack

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