IFRS 9 Transition Report

RNS Number : 5458G

Close Brothers Group PLC

07 November 2018

 

IFRS 9 Transition Report

Close Brothers Group plc ("Close Brothers" or "the group") has today published an IFRS 9 transition report, now available to view on our website:

https://www.closebrothers.com/investor-relations/investor-information/results-reports-and-presentations

The report is designed to assist the reader in understanding the impact on Close Brothers of the adoption of IFRS 9 Financial Instruments, which replaces IAS 39 Financial Instruments: Recognition and Measurement.

The report provides further details on the implementation of IFRS 9 Financial Instruments and on the movement from IAS 39 reported numbers, as included in the Close Brothers Annual Report 2018. IFRS 9 is effective for the group from 1 August 2018.

There has been no change to the previously reported impact of IFRS 9 on the group's balance sheet and capital position at 1 August 2018, which remain as stated in the group's preliminary results announcement on 25 September 2018.

Enquiries

Sophie Gillingham	Close Brothers Group plc	020 7655 3844
Matt Bullivant Andy Donald	Close Brothers Group plc Maitland	020 7655 3698 020 7379 5151

About Close Brothers

Close Brothers is a leading UK merchant banking group providing lending, deposit taking, wealth management services and securities trading.  We employ around 3,300 people, principally in the UK.  Close Brothers Group plc is listed on the London Stock Exchange and is a member of the FTSE 250.

 

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