Close Brothers shares surge 17% after compensation bill upda

Close Brothers shares surged 17% on Wednesday after the bank announced it could comfortably absorb its share of a £9.1 billion compensation bill related to the motor finance scandal. The specialist lender expects its costs to be around £320 million, a figure in line with its prior estimates. This update alleviates concerns about the bank's financial stability amid industry pressures.

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Summary by Glance · Original reporting by The Guardian Australia – Business