Close Brothers Limited

Established in 1878, Close Brothers is a British financial services company, offering lending, deposit taking, wealth management services, and securities trading.

Services

Retail Banking
Corporate Banking
Wealth Management
Securities Trading

Products

Financials

Total Assets (2017)
8 449.50 mln GBP  (+5.94%)
Annual Profit (2017)
183.90 mln GBP  (-2.85%)

Close Brothers Limited is the 42nd largest bank in the United Kingdom in terms of total assets. In 2017 its total assets were 8 449,50 mln GBP, providing the bank with the market share of 0.10%. In 2017 the bank's annual profit was 183,90 mln GBP.

Close Brothers Limited is rated by Fitch, Moody's. Long-term credit rating assigned to the bank by Fitch is A (high credit quality). Long-term credit rating assigned to the bank by Moody's is Aa3 (high grade).

Close Brothers Limited participates in deposit guarantee scheme of the United Kingdom. This scheme covers accounts up to 85 000 GBP per bank per depositor.

Contacts

10 Crown Place, EC2A 4FT, London, United Kingdom
44 02076553100
44 02076558967

Close Brothers Limited is headquartered in London.

Bank Identifiers

MFI ID
GB0855
Company Number
00195626
Start Date
February 1924

Business Summary

Services
retail banking
corporate banking
wealth management
securities trading
Products
savings accounts
time deposit accounts (0.60 - 1.05 %)
consumer loans
business loans
invoice financing
leasing

Close Brothers Limited provides products and services in the areas of retail banking, corporate banking, wealth management, securities trading. The range of products offered by Close Brothers Limited includes savings accounts, time deposit accounts (0.60 - 1.05 %), consumer loans, business loans, invoice financing, leasing.

Products

Time Deposit Accounts

Time deposits accounts are interest-bearing deposit accounts offering higher interest rates than savings accounts. However the money deposited to such account cannot be withdrawn for a specified period of time (term).

Time deposit accounts made with Close Brothers Limited are covered by deposit guarantee scheme of the United Kingdom up to 85 000 GBP per depositor. Close Brothers Limited offers the following time deposit accounts.

Updated on 17 December 2018

Festgeld
Sales Region
Germany
Account Currency
EUR
Interest Rate (p.a.)
0.60 %
Deposit Term (months)
12
Time Deposit Account Details
Product Name
Festgeld
Account Currency
EUR
Interest Rate (p.a.)
0.60 %
Deposit Term (months)
12
Investment Amount
1 - 85000 EUR
Interest Frequency
1 times a year
Festgeld
Sales Region
Germany
Account Currency
EUR
Interest Rate (p.a.)
0.90 %
Deposit Term (months)
18
Time Deposit Account Details
Product Name
Festgeld
Account Currency
EUR
Interest Rate (p.a.)
0.90 %
Deposit Term (months)
18
Investment Amount
1 - 85000 EUR
Interest Frequency
1 times a year
Festgeld
Sales Region
Germany
Account Currency
EUR
Interest Rate (p.a.)
1.00 %
Deposit Term (months)
24
Time Deposit Account Details
Product Name
Festgeld
Account Currency
EUR
Interest Rate (p.a.)
1.00 %
Deposit Term (months)
24
Investment Amount
1 - 85000 EUR
Interest Frequency
1 times a year
Festgeld
Sales Region
Germany
Account Currency
EUR
Interest Rate (p.a.)
1.05 %
Deposit Term (months)
36
Time Deposit Account Details
Product Name
Festgeld
Account Currency
EUR
Interest Rate (p.a.)
1.05 %
Deposit Term (months)
36
Investment Amount
1 - 85000 EUR
Interest Frequency
1 times a year

Germany: This product is offered to German residents only. When clicking on the product link you will be redirected to the product page in German.

See Also

Financial Positions

Total Assets (2017)
8 449.50 mln GBP  (+5.94%)

In 2017 total assets of Close Brothers Limited were 8 449.50 mln GBP. Growth compared to the previous period (2016) was 5.94%. The evolution of the total assets of Close Brothers Limited is shown at Chart 1 below.

Total Assets of Close Brothers Limited.

Chart 1. Total Assets of Close Brothers Limited.

Profit and Loss

Annual Profit (2017)
183.90 mln GBP  (-2.85%)

In 2017 annual profit of Close Brothers Limited was 183.90 mln GBP. Decline compared to the previous period (2016) was -2.85%. The evolution of the annual profit of Close Brothers Limited is shown at Chart 2 below.

Annual Profit of Close Brothers Limited.

Chart 2. Annual Profit of Close Brothers Limited.

Market Share and Rank (among banks in the United Kingdom)

Total Assets (2017)
42nd (market share 0.10%)

In 2017 Close Brothers Limited was ranked the 42nd largest bank in the United Kingdom in terms of total assets, having 0.10% of the domestic market share.

Market share of Close Brothers Limited (among banks in the United Kingdom)

Chart 3. Market share of Close Brothers Limited (among banks in the United Kingdom)

Several banks having the market shares and ranks closest to Close Brothers Limited are shown below.

RankNameTotal AssetsMarket Share
41OneSavings Bank Plc8510.90 mln GBP0.10%
42Close Brothers Limited8449.50 mln GBP0.10%
43Principality Building Society8281.20 mln GBP0.09%
 

Credit Ratings (as of May 2018)

Fitch Moody's
A (high credit quality) Aa3 (high grade)

Credit Rating is an opinion of a credit rating agency about credit worthiness of a company or a government. Close Brothers Limited is rated by Fitch and Moody's.

Credit ratings assigned to Close Brothers Limited as of May 2018 are shown in details in the following sections.

Fitch

Long-term issuer default rating is Fitch's view of a credit institution's relative vulnerability to default on its financial obligations, for Close Brothers Limited it is set to A (high credit quality), outlook is stable (not likely to change). The rating is not on watch. Short-term issuer default rating for Close Brothers Limited is set to F1 (highest short-term credit quality).

Long-Term Issuer Default Rating  A
    Outlook  stable
    On Watch  No
Short-Term Issuer Default Rating  F1
Viability Rating  a
Support Rating  5
Support Rating Floor  NF

Viability rating for Close Brothers Limited is set to a (high fundamental credit quality); support rating is 5 (there is a possibility of external support, but it cannot be relied upon); support rating floor is NF (no floor; no reasonable presumption of potential support being forthcoming).

Moody's

Long-term rating for Close Brothers Limited it is set to Aa3 (high grade). Long-term bank deposit rating is Aa3 (high grade). Baseline credit assessment is a2. Short-term rating is not assigned.

Long-Term Rating  Aa3
Long-Term Bank Deposit Rating  Aa3
Baseline Credit Assessment  a2
Short-Term Rating  -
Outlook  stable

Outlook for the ratings of Close Brothers Limited is set to stable (not likely to change).

Deposit Guarantee

Deposit Guarantee
Yes (up to 85 000 GBP per depositor)

Deposit Guarantee Schemes compensate certain deposits held by depositors of a bank that becomes unable to meet its obligations.

All credit institutions operating in the United Kingdom are obliged to participate in the United Kingdom's deposit guarantee scheme.

In the case of Close Brothers Limited failure, eligible depositors having covered accounts in this bank will be paid out the following compensation:

Eligible Depositors  private individuals, small companies
Covered Currencies  all
Maximum Protected Amount  85 000 GBP
Paid In Currency  GBP

Further Information

MFI ID

MFI ID (Monetary Financial Institution Identifier) is a code, unique to each institution in the MFI list provided by ECB (European Central Bank). MFI ID is hence applicable to MFIs resident in the European Union.

The code is alphanumerical, with the first two digits representing the two-digit ISO code for the country of residence of the MFI and the remaining number of digits (no limit has been specified) is any combination of alphanumerical characters.

MFI ID of Close Brothers Limited is shown in the table below.

MFI ID  GB0855

Company Registration Number

Company Registration Number is a distinctive code issued upon registration of a new company. This code can be used to find data about the company in a national company register.

Company Number  00195626

European Presence: 2 banks in 2 countries

Close Brothers Limited operates under the brand name Close Brothers. This banking brand has presence in the following European countries and selected dependent territories of the European countries:

Ireland

United Kingdom

  • (this bank) Close Brothers Limited (London)

Banking Products in the United Kingdom