News Leader is broadcast daily on BDTV
WATCH: How Investec plans to weather the economic storm
The specialist bank and asset manager is facing macroeconomic and political uncertainty in both of its main markets — SA and the UK. CEO Stephen Koseff says the company’s operational diversity will support a strong recurring income base and earnings, which will help it through tough times. Investec’s largest division, Southern Africa specialist banking, reported a 44% surge in operating profit to £165m in the six months to end-September. This helped offset a 22% decline in profit at its UK specialist banking division, as investments in technology weighed. Overall, after-tax profit grew nearly 20%, and Investec declared an interim dividend of 10.5 pence — a 5% increase on last year’s payout. Koseff spoke to Business Day TV’s Alishia Seckam about how the business plans to brave an uncertain world.
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.