Investec’s profits have surged by 11.1% following the merger of the firm’s UK wealth and investment business with Rathbones, it revealed in its half-year report.
In its results today (16 November), the firm said that adjusted operating profits had jumped to £441m, up from £397m in September 2022. Rathbones flows fall flat as Investec W&I merger completes This has largely come from a surge in profits from its UK arm, Investec plc, which saw a 41.4% jump in profits, now comprising a majority of the firm's income. Meanwhile, Investec Limited, the firm's Southern African arm, saw profits fall 10.7%, from £230m to £206m. This was partially due to trends in its specialist banking division, where its Southern African arm saw profits fall 3% to ...
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