Overview

• The bank booked an additional £33 million to repay historic early‑settlement overpayments in its car loans unit, described as a best‑estimate pending further review.
• Its previously disclosed £165 million provision for dealer‑commission complaints is unchanged, with the ultimate cost dependent on forthcoming FCA redress proposals.
• Close Brothers recorded a £30 million impairment as it begins winding down its loss‑making vehicle hire arm over an estimated three to five years.
• The full-year results were released a week late after PwC requested more time to complete audit work, and the shares fell 2.5% to 484p in morning trading.
• Motor finance accounts for about £2 billion of a £9.5 billion loan book, leaving the group exposed despite over £400 million of capital actions and an ongoing dividend suspension.