Investec Group (INVP) Q4 2026 TU earnings summary

Executive summary

• Resilient performance expected for FY2026, supported by diversified revenue streams and strong client franchises.

• Strategic growth agenda progressing, with investments in corporate, mid-market, and private client segments, and modernization of digital platforms.

• Share buy-back programme of ZAR 2.5 billion (GBP 110 million) completed.

Financial highlights

• Adjusted EPS forecasted at 81.6p–84.0p, up 3%–6% year-over-year; headline EPS at 72.6p–74.1p, flat to 2% higher.

• Basic EPS expected at 76.9p–79.2p, up 6%–9% year-over-year.

• Pre-provision adjusted operating profit projected at £1,066.9m–£1,092.5m, up 3%–5% year-over-year.

• Net core loans increased by 13.3% annualized to GBP 36.3 billion; customer deposits up 11.5% annualized to GBP 45.5 billion.

• Funds under management in South African wealth and investment business grew 26.7% since March 2025 to GBP 29.6 billion.

Outlook and guidance

• Adjusted EPS expected to be 3%–6% ahead of prior year.

• Pre-provision adjusted operating profit to be 3%–5% ahead of prior year.

• Cost-to-income ratio guided at 52%–54%.

• Credit loss ratio expected within 25–45 basis points.

• Group ROE guided at 13.3%–13.7%, and ROTE at 15%–16%, both within medium-term targets.