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Evening Standard
Evening Standard
Holly Williams

Close Brothers swings to loss on motor finance scandal hit

Close Brothers
Close Brothers is at the centre of a looming crisis facing the motor finance industry (PA) - (PA Archive)

Close Brothers has revealed it swung to a loss after setting aside £165 million in provisions for the motor finance commission scandal.

The lender posted a statutory pre-tax loss of £103.8 million for the six months to January 31, against profits of £87 million a year ago.

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