Episode Details

Close Brothers shares surged 17% as they announced a manageable cost for the motor finance compensation bill, while rival FirstRand, facing a hefty $1.2 billion bill, decided to sell off UK operations. The scandal, involving overcharged car loans, has led to a £320 million provision for Close Brothers and a £750 million provision for FirstRand. Despite the scandal, Aldermore, a subsidiary of FirstRand, maintains its strong and serving customers.

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