Investec Group (INVP) Investor presentation summary

Strategic evolution and performance

• Shifted from simplification and focus to disciplined growth, with updated medium-term targets for ROE (13–17%) and cost-to-income (<55%) by FY24, aiming for further improvements by FY30.

• SA business generates ROE of 18%, outperforming peers, while UK ROTE of 13.7% aligns with UK competitors.

• Investments in SA and UK mid-market segments and private client offerings are expected to drive incremental returns into FY2030.

• Completed a R2.5bn/£110mn share buyback, optimizing capital structure.

Private client franchise and growth

• Private Client segment contributes ~32% to group operating profit, with 18% ROE and 52.1% cost-to-income.

• Focus on advice-led, high-touch service, digital enablement, and integrated global solutions to deepen client relationships.

• Targeting significant client acquisition in SA (122k new clients, R3bn operating profit) and UK (5k new clients, £25mn operating profit) by FY30.

• Enhanced client ecosystems and operational efficiencies are expected to improve profitability and retention.

Execution discipline and market opportunity

• SA Private Bank has grown operating profit to R3.2bn, with 128k clients and a 41% share of the SA HNW market.

• Banking is now the largest franchise by profit and loan book size, with strong positions in property finance and investment products.

• Underrepresented in the fastest-growing affluent segment, with strategies to increase market share through targeted acquisition and digital transformation.

• Digital transformation has driven a 163% increase in online leads and 87% digital client activity.