Close Brothers, the FTSE 250 banking, securities and asset management firm, has been affected by difficult market conditions for the Securities division.
During the first quarter from 1 August 2011 to 31 October the group continued to see good demand for its lending services and delivered another strong performance.
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Close Brothers Seydler has also been affected by challenging conditions for its trading businesses and very limited capital markets activity in Germany.
Meanwhile, the loan book increased 5% to £3.6bn at 31 October (31 July 2011: £3.4bn), with particularly good growth in Retail from both premium finance and motor finance.
In a statement the firm said: "Market conditions have affected the Securities division in the first quarter, and remain difficult. However we continue to see a good performance in the Banking division and our businesses remain well positioned."
The share price fell 3.17% to 673p by 13:42.
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