Edition:
United States

Investec Ltd (INLJ.J)

INLJ.J on Johannesburg Stock Exchange

10,531.00ZAc
21 Sep 2018
Change (% chg)

155.00 (+1.49%)
Prev Close
10,376.00
Open
10,359.00
Day's High
10,591.00
Day's Low
10,296.00
Volume
3,155,764
Avg. Vol
812,996
52-wk High
10,591.00
52-wk Low
8,275.00

Latest Key Developments (Source: Significant Developments)

Investec Proposes To Demerge And List Ivestec Asset Management
Friday, 14 Sep 2018 02:30am EDT 

Sept 14 (Reuters) - Investec Plc ::INVESTEC: PROPOSED DEMERGER AND LISTING OF IAM.FANI TITI AND HENDRIK DU TOIT WILL BECOME JOINT CEOS OF GROUP ON 1 OCTOBER 2018.CONCLUDED THAT IT IS NOW APPROPRIATE TO DEMERGE AND PUBLICLY LIST IAM.INVESTEC SPECIALIST BANKING, INVESTEC WEALTH & INVESTMENT BUSINESSES WILL REMAIN PART OF GROUP'S CURRENT DUAL LISTED COS STRUCTURE.BELIEVES THAT THE TRANSACTION SIMPLIFIES GROUP AND FOCUSES IAM AND REMAINING GROUP ON THEIR RESPECTIVE GROWTH PATHS.FOLLOWING IMPLEMENTATION OF TRANSACTION, FANI TITI WILL LEAD REMAINING GROUP AND HENDRIK DU TOIT WILL LEAD IAM.STEPHEN KOSEFF AND BERNARD KANTOR WILL STEP DOWN FROM THEIR ROLES AS CEO AND MANAGING DIRECTOR, RESPECTIVELY, ON 1 OCTOBER.STRUCTURE AND COMPOSITION OF BOARDS OF REMAINING GROUP AND IAM WILL BE DETERMINED IN DUE COURSE AS PART OF TRANSACTION IMPLEMENTATION.FOLLOWING IMPLEMENTATION OF TRANSACTION, FANI TITI WILL LEAD REMAINING GROUP AND HENDRIK DU TOIT WILL LEAD IAM.TRANSACTION IS SUBJECT TO REGULATORY, SHAREHOLDER AND OTHER APPROVALS AND IS EXPECTED TO BE COMPLETED WITHIN NEXT TWELVE MONTHS.IT IS INTENDED THAT IAM WILL BE LISTED ON LONDON STOCK EXCHANGE WITH AN INWARD LISTING ON JSE LIMITED.BOARD WILL PROVIDE FURTHER INFORMATION ON TRANSACTION AND ITS PROGRESS DURING ITS IMPLEMENTATION, AS IT IS ABLE TO DO SO.IAM MANAGEMENT STAKE IN COMPANY WILL BE RETAINED AND REMAINING GROUP MAY RETAIN A MINORITY STAKE IN IAM.  Full Article

Investec Says ‍FY Revenue Expected To Be Ahead Of Prior Year​
Friday, 16 Mar 2018 04:45am EDT 

March 16 (Reuters) - Investec Plc ::‍FY REVENUE IS EXPECTED TO BE AHEAD OF PRIOR YEAR​.‍IMPAIRMENTS IN FY ARE EXPECTED TO BE AHEAD OF PRIOR YEAR​.‍OVER LAST YEAR BREXIT AND POLITICAL UNCERTAINTY HAS CONTINUED TO IMPACT CORPORATE AND CONSUMER CONFIDENCE IN UK AND IN SOUTH AFRICA​.‍SPECIALIST BANKING BUSINESS IS EXPECTED TO REPORT FY RESULTS BEHIND PRIOR YEAR​.‍FOR PERIOD 31 MARCH 2017 TO FEB 28 THIRD PARTY AUM INCREASED 9.1% TO GBP164.5 BILLION - INCREASE OF 8.0% ON A CURRENCY NEUTRAL BASIS​.CORE LOANS AND ADVANCES INCREASED 11.7% TO GBP25.4 BILLION - INCREASE OF 9.5% ON A CURRENCY NEUTRAL BASIS FOR PERIOD 31 MARCH 2017 TO 28 FEB 2018​.‍FOR YEAR TO 31 MARCH FOR BOTH INVESTEC PLC AND INVESTEC LIMITED O CAPITAL RATIOS ARE EXPECTED TO BE WITHIN TARGET TOTAL CAPITAL ADEQUACY RANGE​.‍CUSTOMER ACCOUNTS (DEPOSITS) INCREASED 5.5% TO GBP30.7 BILLION - INCREASE OF 3.4% ON CURRENCY NEUTRAL BASIS FOR PERIOD 31 MARCH 2017 TO 28 FEB 2018​.‍FY OPERATING PROFIT IS EXPECTED TO BE IN LINE WITH PRIOR YEAR​.  Full Article

Investec Plc Say Stephen Koseff,Bernard Kantor to step down
Tuesday, 6 Feb 2018 02:24am EST 

Feb 6 (Reuters) - Investec Plc ::‍GLYNN BURGER, GROUP RISK AND FINANCE DIRECTOR, WILL RETIRE ON 31 MARCH 2019​.CEO ‍STEPHEN KOSEFF AND MANAGING DIRECTOR BERNARD KANTOR WILL STEP DOWN FROM THEIR ROLES ON 1 OCTOBER 2018​.INVESTEC - HENDRIK DU TOIT FOUNDING CEO OF INVESTEC ASSET MANAGEMENT AND EXECUTIVE DIRECTOR OF GROUP SINCE DECEMBER 2010, WILL BE APPOINTED AS CEO DESIGNATES ON APRIL 1.KOSEFF AND KANTOR WILL WILL CONTINUE TO SERVE AS EXECUTIVE DIRECTORS UNTIL 31 MARCH 2019.INVESTEC - ‍FANI TITI WILL BE APPOINTED AS CEO DESIGNATES ON 1 APRIL 2018​.INVESTEC - ‍ON OCT 1 FANI TITI AND HENDRIK DU TOI​ WILL BECOME JOINT CEOS OF GROUP.INVESTEC - ‍KIM MCFARLAND WILL TAKE OVER AS GROUP FINANCE DIRECTOR ON 1 APRIL 2019​.‍FANI TITI WILL STEP DOWN AS GROUP CHAIRMAN ON 31 MARCH 2018​.INVESTEC - ‍FANI TITI WILL STEP DOWN AS CHAIRMAN OF INVESTEC BANK LIMITED ON 1 APRIL 2018, WITH KHUMO SHUENYANE ASSUMING THIS POSITION​.  Full Article

Investec posts net interest income of 3.66 billion rand ​
Thursday, 16 Nov 2017 02:00am EST 

Nov 16 (Reuters) - INVESTEC LTD ​:H1 NET INTEREST INCOME OF 3.66 BILLION RAND VERSUS 3.76 BILLION RAND YEAR AGO.H1 ‍BALANCE SHEET REMAINS SOUND WITH A CAPITAL ADEQUACY RATIO OF 15.3% (31 MARCH 2017: 15.4%)​.H1 HEADLINE EARNINGS ATTRIBUTABLE TO ORD SHAREHOLDERS 2.19 BILLION RAND VERSUS 1.49 BILLION RAND YEAR AGO.H1 ‍TOTAL OPERATING INCOME BEFORE IMPAIRMENT LOSSES ON LOANS AND ADVANCES INCREASED BY 14.6% TO R5 965 MILLION​.  Full Article

Investec says H1 net interest income of 364.3 mln pounds
Thursday, 16 Nov 2017 02:00am EST 

Nov 16 (Reuters) - INVESTEC: :H1 NET INTEREST INCOME OF 364.3 MILLION STG VERSUS 313.5 MILLION STG YEAR AGO ‍​.H1 PROFIT BEFORE TAXATION OF 326.3 MILLION STG VERSUS 290.7 MILLION STG YEAR AGO ‍​.‍DECLARED A DIVIDEND OF 10.5 PENCE PER ORDINARY SHARE (2016: 10.0 PENCE)​.H1 ONGOING OPERATING PROFIT INCREASED 10.5% TO GBP347.5 MILLION (2016: GBP314.5 MILLION) - AN INCREASE OF 0.9% ON A CURRENCY NEUTRAL BASIS​.H1 ‍ONGOING ADJUSTED EPS BEFORE GOODWILL, ACQUIRED INTANGIBLES AND NON-OPERATING ITEMS INCREASED 14.8% FROM 25.7 PENCE TO 29.5 PENCE​.  Full Article

Investec ‍says ‍HY revenue is expected to be ahead of prior period​
Friday, 15 Sep 2017 03:45am EDT 

Sept 15 (Reuters) - INVESTEC PLC ::‍FIRST HALF OF GROUP'S FINANCIAL YEAR CONTINUED TO SEE MACRO UNCERTAINTY IN ITS KEY OPERATING GEOGRAPHIES​.‍WEALTH & INVESTMENT BUSINESS IS EXPECTED TO REPORT HY RESULTS COMFORTABLY AHEAD OF PRIOR PERIOD​.SPECIALIST BANKING BUSINESS IS EXPECTED TO REPORT HY RESULTS AHEAD OF PRIOR PERIOD.HY ‍OPERATING PROFIT IS EXPECTED TO BE COMFORTABLY AHEAD OF PRIOR PERIOD​.‍HY REVENUE IS EXPECTED TO BE AHEAD OF PRIOR PERIOD​.‍HY RECURRING INCOME AS A PERCENTAGE OF TOTAL OPERATING INCOME IS EXPECTED TO BE APPROXIMATELY 75%​.‍UNCERTAINTY EXPECTED TO CONTINUE INTO SECOND HALF OF GROUP'S FINANCIAL YEAR​.  Full Article

Investec sees FY revenue ahead of last year
Tuesday, 14 Mar 2017 05:49am EDT 

Investec Plc : Significant macro events over financial year have impacted group's operating environment . Possibility of a hard Brexit continues to create uncertainty and could impact overall levels of economic growth . South African economy has been weak as politics continue to dominate developments . FY revenue is expected to be well ahead of prior year . FY impairments are expected to be in line with prior year . FY expenses are expected to grow marginally faster than revenue . For year to March 31 2017, common equity tier 1 ratio is expected to remain slightly below group's target of 10 pct for Investec Limited . For March 31 2016 to Feb. 28 2017: - third party assets under management increased 24.3 pct to 151.2 bln stg- up 13.9 pct on a currency neutral basis . Operating profit is expected to be comfortably ahead of prior year . FY capital ratios are expected to be within group's target total capital adequacy range . For the period March 31 2016 to Feb. 28 2017, customer accounts (deposits) up 23.1 pct to 29.6 bln stg, up 5.5 pct on a currency neutral basis . For year to March 31 2017 common equity tier 1 ratio is expected to remain ahead of target for Investec Plc . For the period 31 march 2016 to Feb. 28 2017, core loans and advances up 27.1 pct to 23.0 bln stg, up 7.2 pct on a currency neutral basis..  Full Article

Investec says FX probe confined to a single trader
Friday, 17 Feb 2017 08:39am EST 

Investec Plc : Has received complaint referral lodged by Competition Commission. . Note that case against Investec Limited is confined to conduct of a single trader who is employed by bank. . Intends to seek further information from Competition Commission with respect to specifics of charges in order to continue to co-operate with them Further company coverage: [INVP.L] (Bengaluru Newsroom: +91 80 6749 1136).  Full Article

South Africa's Investec says half-year profit up 20 percent
Thursday, 17 Nov 2016 02:00am EST 

Investec Ltd : For six months to Sept.30, net fee and commission income increased 1.7 pct to 894 mln stg (2015: 879 mln stg) . For six months to Sept.30, total trading income decreased 21.8 pct to 208 mln(2015: 266 mln stg) . Total operating income before impairment losses on loans and advances at 5 204 mln rand(2015: 5 199 mln rand) . For six months to Sept.30, net interest income increased 22.8 pct to 3 759 mln rand(2015: 3 061 mln rand) . For six months to Sept.30, investment income decreased 83.0 pct to 170 mln rand (2015: 1 002 mln rand) impacted by a change in accounting treatment . Impairments on loans and advances increased from 287 mln rand to 322 mln rand, with credit loss ratio on average core loans and advances amounting to 0.30 pct (31 march 2016: 0.26 pct) .For six months to Sept.30, profit before taxation and acquired intangibles decreased by 5.4 pct to 1 988 mln rand(2015: 2 101 mln rand)..  Full Article