Investec Ltd (JSE:INPR.PFD)
R 100 +0.50 (+0.5%) Market Cap: - Enterprise Value: - PE Ratio: 8.26 PB Ratio: 0.92 GF Score: 63/100
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Full Year 2025 Investec Ltd Earnings Call Transcript

May 22, 2025 / 08:00 AM GMT
Release Date Price: R98.3 (-0.68%)

Key Points

Positve
  • Investec Ltd (NAM:IVD) reported a significant increase in pre-provision operating profit by 8% to over 1 billion pounds, marking a historic achievement for the company.
  • The company has seen a strong growth in adjusted EPS from 55.1% to 79.1%, indicating robust financial performance.
  • Investec Ltd (NAM:IVD) declared a final dividend of 20%, bringing the full-year dividend to 36.5%, and announced a share buyback of approximately 100 million pounds.
  • The company has made significant progress in its sustainability efforts, meeting commitments to reduce fossil fuel exposure and setting a 2030 target for sustainable finance at 18 billion pounds.
  • Investec Ltd (NAM:IVD) has a strong capital position with a South African capital ratio of 14.8% and a leverage ratio of 6.2%, supporting future growth initiatives.
Negative
  • The macroeconomic environment in both South Africa and the UK has been lackluster, with growth expectations ranging between 1 to 1.5% in South Africa.
  • Interest rates have been decreasing, which could impact net interest margins negatively, with a sensitivity of 100 million rand for every 25 basis point change in South Africa.
  • The UK Specialist Bank's net interest income reduced by 4.4% despite loan book growth, affected by lower interest rates and deposit repricing.
  • Credit loss ratio increased to 38 basis points, with ECLs up significantly year-on-year due to normalization of recoveries.
  • The company faces challenges in maintaining its cost to income ratio, which, although improved, still requires careful management amid ongoing investments in growth and technology.


Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

INLJ.J - Investec Ltd
Full Year 2025 Investec Ltd Earnings Call
May 22, 2025 / 08:00AM GMT

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Presentation
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Unidentified_1 [1]
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I'm just going to start off by giving you a brief overview of the results for the year ending March 2025.

We are pleased to, present to you a very strong results against the background that was very complex and challenging. You will remember that in South Africa, we had, elections in the first half of our year, equally in the UK we also had elections and as a consequence, There was a level of uncertainty and we saw muted activity and muted loan book growth in our first half. In the second half of the year, we were pleased to see significant pickup in activity, but also growth in loan books. So when you look at our loan books overall, they represent a pretty good outcome of the second half.

We also then saw pre-provision
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