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Close Brothers Group's net income fell to £198.5m from £207.3m as announced in the company's preliminary results for the year ended 31 July 2019.
Net interest income rose to £505.7m from £486.1m, and the board proposed a full year dividend per share of 66.0p, up 5%.
Higher profits were reported in Banking while the Asset Management division and Winterflood faced more challenging conditions. However, Winterflood delivered solid trading profitability with only two loss days in the year.
Preben Prebensen, chief executive, said:
'I am pleased that the group has delivered a very solid performance, maintaining strong returns and profitability. The Banking division has achieved good loan book growth whilst maintaining strong margins and consistent pricing in a competitive market, and our market facing businesses have continued to deliver strong net inflows and solid trading profitability in challenging conditions.'
'The disciplined application of our business model and investment in key strategic initiatives give us confidence that we can continue to support our customers in a wide range of market conditions.'
At 10:12am: (LON:CBG) Close Brothers Group PLC share price was -19p at 1356p