JOHANNESBURG, July 31 South African investment
bank Investec on Thursday reported a one percent rise
in first-quarter operating income, while bad debt losses fell 17
The asset manager, also listed in London, said
loans and advances were unchanged at 17.2 billion pounds ($29
billion) while third party assets under management were 114.9
billion pounds in the three months to end June, an increase of
Investec, which has been hit by souring economies in its key
markets in the United Kingdom and Australia, said the sale of
some businesses to the Bank of Queensland became
effective on Thursday.
It is also working on a separate sale for its UK-based
mortgage business, Kensington.
($1 = 0.5916 British Pounds)
(Reporting by Helen Nyambura-Mwaura. Editing by Jane Merriman)