Car finance firm Close Brothers slumps to loss after taking £165m hit
by Julia Kollewe from World news | The Guardian on (#6W0D1)
Company's shares plunge as it estimates total costs of 200m this year from motor finance scandal
Close Brothers, one of the UK's biggest providers of car loans, has slumped to a 103m loss as it deals with the fallout of the motor finance commission scandal, which it estimates will cost it a total of 200m this year.
The lender also scrapped its dividend again. Its shares plunged by 17% on the news.
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