Unsecured retail point of sale finance market does not fit long-term with its secured business model, merchant bank Close said. The business had a loan book of £66mln at 31 July with the sale is expected to complete in the current calendar year. Shares rose 1.5% to 1,614p.
Close Brothers exits point of sale loan space
The business had a loan book of £66mln at 31 July
Quick facts: Close Brothers Group
Market Cap: £1.9 billion
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