Investec sees profit uptick over first half


first_img whatsapp Investec sees profit uptick over first half KCS-content Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofTortilla Mango Cups: Recipes Worth CookingFamily ProofWhat to Know About ‘Loki’ Ahead of Disney+ Premier on June 9Family ProofCheese Crostini: Delicious Recipes Worth CookingFamily Proof Show Comments ▼ Tags: NULLcenter_img by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastNoteabley25 Funny Notes Written By StrangersNoteableyMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBemoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.com whatsapp SOUTH African bank Investec said yesterday that first-half operating profit is expected to inch up marginally, as a strong performance from the asset management and private wealth businesses offset sluggish investment banking activity.Investec admitted that defaults on bad loans have continued to increase due to the slow pace of economic recovery. Impairments remain elevated but are beginning to show signs of improvement, the bank said, forecasting an annualised credit loss charge of between 0.85 and 0.9 per cent of average gross loans and advances.In the investment bank, a robust performance in capital markets was dragged down by diffcult conditions for the stockbroking business and muted corporate finance activity.However, Investec – which earlier this year bought out the remaining half of Rensburg Sheppards – said the performance of its asset management and private wealth businesses had jumped compared to the prior year, with average numbers 38 per cent and 22 per cent respectively above the six months to end of September 2009. The asset management arm raked in £1.5bn of net inflows over the first-half period. Share Thursday 16 September 2010 8:26 pmlast_img

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