Integrated Annual Report 2015

Operational and strategic report

The past year focused largely on the execution of our strategic priorities and our performance reflects the positive progress made

The reshaping of the Specialist Bank was completed with the sale of the Kensington Group plc, Start Mortgage Holdings Limited and Investec Bank (Australia) Limited. Significant headway was made in accelerating the run down of the legacy portfolio in the UK. While at the same time, we continued to grow the core franchises of the Specialist Bank as well as invest in the growth of our Asset Management and Wealth & Investment businesses.


On behalf of the boards of Investec plc and Investec Limited

Fani Titi
Fani Titi
Fani Titi
Stephen Koseff
Chief executive officer
Fani Titi
Bernard Kantor
Managing director




(References to ‘operating profit’ in the text above relates to operating profit before taxation, goodwill, acquired intangibles, non-operating items and after other non-controlling interests.)

The operating financial review provides an overview of our strategic position, performance during the financial year and outlook for the business. It should be read together with the sections that follow as well as volume two of our integrated annual report, which elaborate on the aspects highlighted in this review.


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