Quarterly Capital Disclosure - 30 June 2024

Investec PLC

30 August 2024

 

Investec Limited Incorporated in the Republic of South Africa Registration number 1925/002833/06 JSE share code: INL JSE Hybrid code: INPR JSE debt code: INLV NSX share code: IVD BSE share code: INVESTEC ISIN: ZAE000081949 LEI: 213800CU7SM6O4UWOZ70

Investec plc Incorporated in England and Wales Registration number 3633621 LSE share code: INVP JSE share code: INP ISIN: GB00B17BBQ50 LEI: 2138007Z3U5GWDN3MY22

 

As part of the dual listed company structure, Investec plc and Investec Limited notify both the London Stock Exchange and the JSE Limited of matters which are required to be disclosed under the Disclosure Guidance, Transparency Rules (DTR) and Listing Rules of the United Kingdom Listing Authority (the "UKLA") and/or the JSE Listing Requirements.

Accordingly, we advise of the following:

 

Pillar III quarterly disclosures at 30 June 2024

Capital adequacy and leverage disclosures

Investec plc and Investec Limited calculate capital resources and requirements using the Basel III framework, as implemented in their respective jurisdiction by the Prudential Regulation Authority and South African Prudential Authority.

The following table sets out the capital and leverage metrics for the Investec plc group, Investec Limited group and Investec Bank Limited group (IBL):

 

	Investec plc^*	Investec Limited^**	Investec Bank Limited Group**
	£'million	R'million	R'million
Common Equity Tier 1 ratio***	11.9%	14.9%	17.8%
Tier 1 ratio	14.4%	16.3%	19.0%
Total capital ratio	18.1%	18.9%	21.8%
Risk weighted assets	18 911	281 910	263 122
Leverage ratio	9.6%	6.6%	7.5%

^ The information for Investec plc includes the information for Investec Bank plc. The information for Investec Limited includes the information for IBL.

*  Investec plc's capital and leverage ratios exclude quarterly profits and associated foreseeable charges and dividends for the period 1 April to 30 June 2024. In accordance with the Prudential Regulation Authority rules, quarterly profits may only be included in a firm's capital position once the profits have been independently verified by an external audit firm.

** Investec Limited and IBL are predominately on the advanced approach for credit and market risk.

*** Investec Limited's and IBL's capital information includes unappropriated profits. If unappropriated profits are excluded from capital information, Investec Limited's and IBL's CET1 ratio would be 190bps and 198bps lower respectively. The leverage would be 80bps and 79bps lower respectively.

Liquidity Disclosures

 

Liquidity coverage ratio (LCR) and net stable funding ratio (NSFR)

The objective of the LCR is to promote the short-term resilience of the liquidity risk profile of banks by ensuring that they have sufficient high-quality liquid assets to survive a significant stress scenario lasting 30 calendar days. The NSFR promotes the resilience of the banking sector by requiring banks to maintain a stable funding profile in relation to the composition of their assets and off-balance sheet activities on an ongoing structural basis. By ensuring that banks do not embark on excessive maturity transformation that is not sustainable, the NSFR is intended to reduce the likelihood that disruptions to a bank's funding sources would erode its liquidity position, increase its risk of failure, and potentially lead to broader systemic risk.

The following table sets out the LCR and NSFR for the Investec plc group, IBL (solo basis) and IBL group:

	Investec plc*	Investec Bank Limited (solo basis) **	Investec Bank Limited Group **
Actual LCR	428%	157.8%	175.3%
Actual NSFR	144%	125.0%	125.7%

*  For Investec plc the LCR ratio disclosed is the trailing12-month average ratio and the NSFR ratio is the trailing 4-quarter average 

    ratio.

** The values in the table are calculated as the simple average of 91 calendar daily values over the period 1 April 2024 to               30 June 2024 for IBL (solo basis). IBL group values use daily values for IBL (solo basis), while those for other group entities use the average of April, May and June 2024 month-end values.

The detailed capital and liquidity disclosures for the above entities are available on the Investec website in the quarterly Pillar 3 disclosure reports, as required by the relevant regulations.

30 August 2024

Sponsor: Investec Bank Limited

 

END