Curtis Banks (CBP) has a plan to offset some of the effects of low interest rates on its income. The Sipp administrator has pooled the assets it acquired as part of the Suffolk Life deal with its existing customer cash balances at Barclays (BARC), where management says they will earn a more attractive interest rate. Operating margins last year dropped to 26 per cent from 35 per cent in the previous year as the lower-margin business was added - the benefit of pooling assets should feed through next year.
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