Integrated Annual Report 2015

Our operational footprint

We have built a solid international platform, with diversified revenue streams and geographic diversity

Investec in total

Operating profit*
£493.2 million

NAV**
£2 680.0 million

COI^ ROE^
67.6% 10.6%

Assets
£44 353 million

Permanent employees
7 759

 
UK, Europe and Other
  • In 1992 we made our first international acquisition, acquiring Allied Trust Bank in London
  • Since that date, we have expanded organically and through a number of strategic acquisitions
  • Developed capabilities in all three of our core activities
  • Listed in London in July 2002 through the implementation of a dual listed companies structure
  • Offices supporting the UK and Other businesses include Australia; Beijing; Channel Islands; Hong Kong; India; Ireland; London; Manchester; North America; Switzerland; and Taiwan.
 

Operating profit* (statutory) of the UK operations decreased 6.0% to £144.1 million

Operating profit* (ongoing) of the UK operations increased 11.7% to £231.7 million

 
£10.3bn   £7.1bn   £80.5bn
Total deposit book   Total core loans   Total funds under management
 
 

 

Southern Africa
  • Founded as a leasing company in 1974
  • Acquired a banking licence in 1980
  • Listed on the JSE Limited South Africa in 1986
  • In 2003 we implemented a 25.1% empowerment shareholding transaction
  • Market leading position in all three of our core activities
  • Fifth largest bank in the country
  • Offices supporting the Southern African businesses include Botswana; Cape Town; Durban; East London; Johannesburg; Knysna; Mauritius; Namibia; Nelspruit; Pietermaritzburg; Port Elizabeth; Pretoria; and Stellenbosch.
 

Operating profit* (statutory) of the Southern African operations increased 17.4% to £349.0 million, but was up 28.7% in home currency

 
£12.3bn   £10.1bn   £43.6bn
Total deposit book   Total core loans   Total funds under management
 
 
 
* Before goodwill, acquired intangibles, non-operating items, taxation and after other non-controlling interests.
** NAV is tangible shareholders’ equity as calculated here.
^ COI is cost to income ratio. ROE is the post-tax return on adjusted average shareholders’ equity as calculated here.

 

Our three distinct business activities are focused on well-defined target clients

Asset Management
Provides investment management services to third party institutions, clients and intermediated savers

Core client base and what we do

Operates independently from Investec’s other businesses and its sole focus is the provision of investment management services to its predominantly global institutional client base

Market positioning

Funds under management
1991: £0.4 billion a 2015: £77.5 billion

Net inflows of £3.1 billion
Good long-term performance with growing traction in our distribution channels

 

Operating profit* of Asset Management increased 3.6% to £149.0 million

 
£77.5bn
Total funds under management
 
 
 
Wealth &Investment
Provides investment management services and independent financial planning advice

Core client base and what we do

Provides investment management services and independent financial planning advice to private clients, charities and trusts

Market positioning

Total funds under management
1997: £0.04 billion a 2015: £46.1 billion
UK: One of the top five players
SA: Largest player

 

Operating profit* of Wealth & Investment increased 19.2% to £78.8 million

 
£26.6bn   £19.5bn   £46.1bn
Discretionary and annuity funds under management   Non-discretionary and other funds under management   Total funds under management
 
 
 
Specialist Banking

Provides a broad range of services:

  • Advisory
  • Structuring
  • Transactional banking
  • Lending
  • Treasury and trading
  • Investment activities

Core client base and what we do

We offer a broad range of services from advisory, structuring, lending, transactional banking, treasury and trading, and investment activities. These services are aimed at government, institutional, corporate and high net worth and high income clients

Market positioning

Global core loan portfolio: £17.2 billion^^

  • Corporate and other clients: £7.1 billion
  • Private clients: £10.1 billion^^

Global deposit book: £22.6 billion

 

Operating profit* (statutory) of Specialist Banking increased 9.9% to £304.7 million

Operating profit* (ongoing) of Specialist Banking increased 18.4% to £392.3 million

 
£22.6bn   £17.2bn
Total deposit book   Total core loans^^
 
 
 
* Before goodwill, acquired intangibles, non-operating items, taxation and after other non-controlling interests.
** NAV is tangible shareholders’ equity as calculated here.
^ COI is cost to income ratio. ROE is the pre-tax return on adjusted average shareholders’ equity as calculated here.
^^ Including legacy assets of £0.7 billion as explained here.

 

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