Investec Plc · LSE:INVP
Investec — Investec Bank — Investor Presentation (June 2026)
45 slides from Investec's investor presentation, June 2026
Slide 1: Creating enduring worth – Investec Bank plc investor generic presentation
Creating enduring worth Investec Bank plc Investor generic presentation June 2026 The information in this presentation relates to the year ended 31 March 2026, unless otherwise indicated.
Slide 2: Contents
Contents 01 Investec Group 02 03 04 05 Overview Investec Bank plc Further Appendix at a glance of Investec operating information and Bank plc fundamentals peer analysis 22
Slide 3: Overview of Investec Group
3 Overview of Investec l , Group
Slide 4: Investec Dual Listed Company structure
Investec Dual Listed Company structure Non-Southern African operations Southern African operations • Investec plc and Investec Limited are Investec plc Investec Ltd separate legal entities and listings, but are bound together by contractual agreements Sharing and mechanisms Agreement • Investec oper
Slide 5: Our international footprint
Our international footprint Since inception, we have Countries in which we operate expanded through a combination of substantial organic growth and a Wealth & Investment Activities series of strategic acquisitions. Private Client Banking Activities Our focus today is on growth Business & Commercial
Slide 6: One Investec: 50 years of heritage
One Investec Our purpose is to create enduring worth. Our values 50 years of Deep client partnerships, built on trust and Out of the Ordinary service, are the bedrock of our business heritage. We uphold cast-iron integrity in all our dealings, consistently displaying moral strength Two core We seek
Slide 7: Investment proposition
Investment proposition Well positioned to pursue long-term growth 1 Well capitalised and highly liquid balance sheet 2 Committed to optimising shareholder returns – managing capital dynamically and allocating it to activities that generate returns above cost of capital 3 Diversified mix of earnings
Slide 8: Fuelling a robust growth agenda
Fuelling a robust growth agenda Growth Objectives Continued execution with Accelerate and scale Further develop connected discipline to drive growth initiatives client eco-systems across optimisation of returns business units & geographies Underpinned by Deepening our entrepreneurial culture (Out of
Slide 9: Our pathway to Net Zero by 2050
Our pathway to Net Zero by 2050 Three channels of impact FY26 loan book exposure: Coal: 0.09% (Mar-25: 0.05%) 1 Meeting our fossil fuel exposure commitments Fossil fuels: 0.98% (Mar-25: 1.17%*) Facilitated £3.1bn in year 1 of our 5-year target to facilitate 2 Driving sustainable and transition finan
Slide 10: Investec's commitment to society and the environment
Highlights: Investec’s commitment to society and the environment Commercial activity Philanthropic activity Own operations Prioritising the development of the mid-market sector – a Investec Promaths has supported We pursue diversity and strive to crucial driver of job creation and economic growth cr
Slide 11: Overview of Investec Bank plc
Overview of Investec Bank plc 11
Slide 12: Investec Bank plc
Investec Bank plc A Specialist Bank with access to a diversified wealth management offering to deliver an extensive range of products and services. Total assets Net core loans Customer deposits FUMA Employees £31.8bn £17.8bn £22.5bn Rathbones Group Plc* £113.6bn at 31 March 2026 2 300+ Key highlight
Slide 13: Strategic positioning
Strategic positioning Building scale & relevance with the client at the centre – creating enduring worth DELIVERING A UNIQUE BREADTH OF CAPABILITIES IN THE UK MID-MARKET “Hi-tech & Hi-touch” Accelerated drive to increase clients and increase share of wallet Private Private Private Client Companies E
Slide 14: Wealth & Investment UK: Rathbones holding
Underlying profit attributable to shareholders* Wealth & Investment UK Combination with Rathbones successfully completed in Sept 2023 £80.9 million (Mar-25: £69.1 million) post-taxation profit from associates recognised from our holding in the combined Rathbones Group 2 1 3 4 Created the UK’s leadin
Slide 15: Specialist Banking
Specialist Banking Winning in under-serviced parts of the market through dynamic, full service offering Private equity and sponsor- Private clients Private companies Publicly listed companies Specialist sectors backed companies For UK mid-market founder and For high net worth clients that need a For
Slide 16: Investec plc ranks 7th for UK banks by revenue and 6th by profits
Investec plc | ranks 7th for UK banks by revenue and 6th by profits • Investec plc is a substantial business generating strong and consistent revenues over many years. • Investec plc revenue during the year to Mar-26 totalled £1.2bn. The chart below shows the relative revenue generation compared to
Slide 17: Investec Bank plc operating fundamentals
Investec Bank plc operating fundamentals 17
Slide 18: Profitability supported by diversified revenue streams
Profitability supported by diversified revenue streams Revenue mix (£'mn) 1 250 1194 1192 1191 1 000 750 500 Other operating income Trading income Investment income 250 Share of post taxation profit of associates and joint venture holdings Net fee and commisssion income 0 Mar 24 Mar 25 Mar 26 Net in
Slide 19: Cost to income ratio decreasing overtime
Cost to income ratio decreasing overtime Costs and cost to income ratio (£'mn) 627 607 598 600 500 400 52.5% 50.2% 51.0% 300 200 100 Operating costs (LHS) Cost to income ratio (RHS) 0 Mar 24 Mar 25 Mar 26 • Focused on managing costs while building for the future – Continue to leverage technology and
Slide 20: Profitability supported by diversified revenue streams
Profitability supported by diversified revenue streams Adjusted operating profit1 (£'mn) Business mix percentage contribution to adjusted £'mn operating profit1 700 600 15% 14.5% 500 400 300 Mar 2026 Mar 2025 200 100 0 85.5% Mar 22 Mar 23 Mar 24 Mar 25 Mar 26 85% Specialist Banking Wealth & Investme
Slide 21: Specialist capabilities with exposures in select target markets
Specialist capabilities with exposures in select target markets • Focus remains on deployment of capital into core business activities and ensuring that concentration risk to certain asset types, industries and geographies is prudently managed, mitigated and controlled • Our portfolios have performe
Slide 22: Consistent asset growth, gearing ratios remain low
Consistent asset growth, gearing ratios remain low Total assets composition Gearing1 remains low £'bn 40 12 10.8 10.1 10 30 8.3 3.4 8.1 8.2 3.7 3.9 4.1 8 4.3 9.4 9.7 9.1 5.7 20 8.6 6 5.6 8.9 4.6 4.6 4.6 4 10 16.6 16.8 17.8 14.4 15.6 2 0 0 2022 2023 2024 2025 2026 2022 2023 2024 2025 2026 Net core lo
Slide 23: UK & Other net core loans up 5.9% to £17.8bn
Mar-25 Mar-26 £’mn HNW & Other private 6 000 client lending Property Corporate & Other Lending 5 656 5 500 5 000 4 500 UK & Other net core 4 000 loans up 5.9% to 3 500 £17.8bn 3 000 2 827 • Growth across our diversified corporate 2 482 loan book, particularly in our Fund 2 500 Solutions, Direct Lend
Slide 24: Unpacking the credit loss ratio
Unpacking the credit loss ratio ECL impairment charge 2025 2026 CLR ECL impairment charge (£'mn) 97.0 97.4 in line with guidance Credit loss ratio (bps) 60 57 57bps (Mar-25: 60bps) Gross core loans and coverage Stage 1 Stage 2 Stage 3 Total Gross core loans* (£'mn) 14 524 1 331 563 16 418 ECL charge
Slide 25: Asset quality metrics
Asset quality metrics Asset quality metrics reflect the solid performance of core loans to date Balance sheet ECL provisions (£’mn) Gross core loans by Stage (£’mn) 200 1500 111 142 111 100 75 67 1000 Stage 1 32 33 28 Stage 2 35 31 43 1321 1391 1331 1266 2022 Stage 3 32 39 34 37 0 500 992 2023 2022
Slide 26: Diversified funding strategy
Diversified funding strategy • Investec Bank plc's funding consists primarily of customer deposits • The bank adopts a conservative and prudent funding strategy • Investec Bank plc is not subject to the Banking Reform Act ring-fencing requirements which are applicable to all large UK deposit takers,
Slide 27: Primarily customer deposit funded with low loan to deposit ratio
Primarily customer deposit funded with low loan to deposit ratio • Loans as a percentage of customer deposits Fully self funded: conservative loan to deposit ratio remains conservative at 79.0% £'bn • Customer deposits have grown by 56.2% 20.9 100% (11.8% CAGR) since 2022 to £22.5bn at 31 18.6 19.3
Slide 28: Maintaining robust surplus liquidity
Maintaining robust surplus liquidity • We maintain a high level of readily available high quality liquid assets – Cash and near cash composition targeting a minimum cash to customer deposit ratio of 25%. These balances amounted to £9.4bn at 31 March 2026 (representing 41.6% of customer 7.7% deposits
Slide 29: Sound capital ratios in excess of internal and regulatory minimums
Sound capital ratios in excess of internal and regulatory minimums Robust headroom of 4.9% above the MDA threshold (Investec Bank plc consolidated) Capital ratios: Investec Bank plc Minimum CET 1 requirement % ^ 31 March 31 Mar 2025* Target 15% Investec plc: 2026* lowest min CET 1 12.4% 12.2% 11.8%
Slide 30: We inherently hold more capital per unit of risk
We inherently hold more capital per unit of risk As we use the standardised approach for RWA calculations, our capital ratios are not directly comparable with peers RWA density – Total RWA/Total Assets CET 1/Total Assets (%) 75.0% 10.0% 8.0% 50.0% 6.0% 25.0% 4.0% —% 2.0% 2022 2023 2024 2025 2026 202
Slide 31: Further information and peer analysis
Further information and peer analysis 31
Slide 32: UK high net worth banking: journey to scale
Private Clients UK high net worth (HNW) banking: journey to scale Journey to profitability Growth 6 £’mn March 26** Mar 25 5.6 5 Loan book (£’bn) 5.0 Revenue 80.8 100.6 4 ECL impairments (4.0) (7.3) 3 2 Costs (44.2) (47.9) 1 Profit 32.5 47.1 0 2022 2023 2024 2025 2026 Loan book growth 8.5% 3.7% 8 00
Slide 33: Investec Bank plc: peer group comparisons
Investec Bank plc: peer group comparisons Funding: Loans and advances to customers as a % Credit loss ratio: ECL impairment charges as a % of average core loans of customer deposits (smaller number is better) and advances (smaller number is better) 1.00 117.4% 1.00 105.5% 97.0% 94.6% 100% 79.0% 0.57
Slide 34: Appendix
Appendix 05 34
Slide 35: IFRS 9 macro-economic scenario forecasts
IFRS 9 macro-economic scenario forecasts For Investec plc, four macro-economic scenarios are used in the measurement of ECL. These scenarios incorporate a base case, an upside case and two downside cases. The table below shows the key economic factors that form part of the UK and Other macro-economi
Slide 36: IBP: salient financial features (statutory)
IBP: salient financial features (statutory) 31 March 2026 31 March 2025 % change Operating income (£’000) 1 161 693 1 157 295 0.4% Operating costs (£’000) 607 310 597 719 1.6% Adjusted operating profit (£’000) 486 258 496 823 (2.1%) Earnings attributable to ordinary shareholder (£’000) 353 196 366 4
Slide 37: IBP: Statutory Income Statement
IBP: Statutory Income Statement £'000 31 March 2026 31 March 2025 % Change Interest income 1 735 860 1 979 851 (12.3)% Interest expense (1 002 655) (1 189 390) (15.7)% Net interest income 733 205 790 461 (7.2)% Fee and commission income 228 134 194 340 17.4 % Fee and commission expense (21 489) (13
Slide 38: IBP: Balance Sheet
IBP: Balance Sheet £'000 31 March 2026 31 March 2025 Assets Cash and balances at central banks 3 173 756 5 661 623 Loans and advances to banks 800 615 676 001 Reverse repurchase agreements and cash collateral on securities borrowed 1 884 699 1 140 115 Sovereign debt securities 3 688 138 1 928 134 Ba
Slide 39: IBP: Balance Sheet (continued)
IBP: Balance Sheet (continued) £'000 31 March 2026 31 March 2025 Liabilities Deposits by banks — 2 174 305 Derivative financial instruments 902 677 274 791 Other trading liabilities 419 205 18 449 Repurchase agreements and cash collateral on securities lent 19 409 85 091 Customer accounts (deposits)
Slide 40: IBP: Statutory segmental analysis of operating profit
IBP: Statutory segmental analysis of operating profit Specialist Banking For the financial year ended 31 March 2026 Wealth & Private Corporate, Investment Total £'000 Investment Banking Banking & Other Group Continuing operations Net interest income 6 128 76 528 650 549 733 205 Fee and commission in
Slide 41: IBP: Statutory segmental analysis of operating profit
IBP: Statutory segmental analysis of operating profit Specialist Banking For the financial year ended 31 March 2025 Wealth & Private Corporate, Investment Total £'000 Investment Banking Banking & Other Group Continuing operations Net interest income 7 381 96 639 686 441 790 461 Fee and commission in
Slide 42: IBP: asset quality under IFRS 9
IBP: asset quality under IFRS 9 £‘mn 31 March 2026 31 March 2025 Gross core loans 18 011 16 744 Gross core loans at FVPL 809 641 Gross core loans subject to ECL1 17 202 16 103 Stage 1 15 354 14 181 Stage 2 1 266 1 391 of which past due greater than 30 days 31 150 Stage 3# 582 531 ECL^ (207) (187) St
Slide 43: IBP: capital adequacy
IBP: capital adequacy £‘mn 31 March 2026* 31 March 2025* Tier 1 capital Shareholders’ equity 3 357 3 070 Non-controlling interests – – Regulatory adjustments to the accounting basis (7) (3) Deductions (669) (658) Common equity tier 1 capital 2 681 2 409 Additional Tier 1 instruments 350 458 Tier 1 c
Slide 44: Investec Group's sustainability awards and recognition
Investec Group’s sustainability awards and recognition Better Society Awards INSEAD Alumni Climate Leaders 2025 2026 Balance in Business Awards 2024 Recognised as Africa’s best Winner of the best Awarded best FTSE 250 strategy Recognised as one of Europe's for Philanthropic Advisory, Partnership wit
Slide 45: Sustainability highlights (Investec Bank plc)
Sustainability highlights (Investec Bank plc) Operate responsibly, finance and invest in a sustainable future and maintain our competitive sustainability position Our two focus areas Addressing climate change Supporting socioeconomic progress Achieved target of zero coal Fossil fuels as % We introdu