Investec Plc · LSE:INVP
Investec — Investec Bank — Investor Presentation (June 2026)
44 slides from Investec's investor presentation, June 2026
Slide 1: Investing for long-term growth
Investing for long-term growth INVESTEC BANK LIMITED 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 02 03 04 05 Investec Bank IBL IBL peer IBL Group at a Limited (IBL) operating analysis Appendices glance overview fundamentals 22
Slide 3: Investec Group at a glance
Investec Group at a glance 3
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
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: Our strategic intent today | Disciplined growth
Our strategic intent today | Disciplined growth GROWING EXISTING CLIENT FRANCHISES CAPITAL ALLOCATION DISCIPLINE We remain focused on growing our core client franchises, through disciplined and targeted A disciplined approach to capital allocation ensures expansion across key businesses. our aim is
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: Highlights: 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: Investec Bank Limited (IBL) overview
Investec Bank Limited (IBL) overview 11
Slide 12: Overview of Investec Bank Limited
Overview of Investec Bank Limited IBL is a specialist bank with a strong franchise in niche market segments operating primarily in Southern Africa. Total assets Net core loans Total equity Customer deposits Employees R690.1bn R397.3bn R52.8bn R503.4bn 4 700+ Key highlights Well established franchise
Slide 13: Specialist Banking
Specialist Banking We have a specialised niche offering to a select target market • Invested in our • Strong technology • Deepening our • Our growth initiatives • Maintaining cost • Maintaining sound business, and digital platforms existing client and strong franchise efficiency with capital ratios
Slide 14: Specialist Banking
Specialist Banking High-quality specialist banking solutions with leading positions in selected areas Corporate and Private Banking Business and Commercial Banking Investment banking For corporates (mid to large size), intermediaries, For high net worth clients, professionals and institutions, gover
Slide 15: Specialist Banking: Private Banking
Specialist Banking: Private Banking A full-service Private Banking offering integrated into One Place™ Ambition • To be a leading domestic and international Private Bank • High net worth individuals, high-income professionals, sophisticated investors, emerging and established entrepreneurs, and Clea
Slide 16: Specialist Banking: Corporate & Investment Banking
Specialist Banking: Corporate & Investment Banking Strong franchise value and leading market position in our niche markets • Mid to large size corporates (listed and unlisted), financial advisers and intermediaries, government and public sector institutions, banks and financial Target market service
Slide 17: Specialist Banking: Business & Commercial Banking
Specialist Banking: Business & Commercial Banking Bespoke lending offerings for working capital optimisation and business growth Ambition • Develop an integrated niche offering to our target clients Clear target market • Smaller and mid-tier corporates • Combining bespoke lending with Investec’s oth
Slide 18: IBL operating fundamentals
IBL operating fundamentals 18
Slide 19: Revenue supported by resilient franchises
Revenue supported by resilient franchises R’mn Revenue mix Revenue versus expenses R’bn R’bn 24 100% 24 100% 21.2 21.2 20.0 20.0 20 20 80% 16 75% 16 12 12 10.5 60% 9.6 8 50% 8 40% 4 4 0 25% 0 20% Mar 22 Mar 23 Mar 24 Mar 25 Mar 26 Mar 22 Mar 23 Mar 24 Mar 25 Mar 26 Net interest income (LHS) Annuity
Slide 20: Adjusted Operating Profit
Adjusted Operating Profit • IBL reported an increase in adjusted operating profit of 1.7%. Our client engagement has been proactive, resulting in good client acquisition across both private and corporate clients in the period under review. Profits increased primarily due to: – Net interest income gr
Slide 21: Sound capital base
Sound capital base Total capital resources (R'bn) Total risk-weighted assets: lower RWA intensity* (R'bn) 60 800 60% 55.2 53.7 690.1 700 642.3 600 40 40% 500 400 300.4 300 275.1 20 20% 200 100 0 0 0% 2022 2023 2024 2025 2026 2022 2023 2024 2025 2026 Shareholders equity Perpetual preference shares Su
Slide 22: Strong capital ratios
Strong capital ratios Capital development Basel capital ratios AIRB Scope * 24% 21.2% 19.5% 31 March 2026 31 March 2025 20% 16.8% 16% 15.3% Common equity Tier 1 ^ 15.3% 16.8% 12% Tier 1 ratio 17.2% 18.2% 8% 6.8% 6.7% Total capital ratio 19.5% 21.2% 4% Leverage ratio 6.7% 6.8% 0% * Investec Bank Limi
Slide 23: Consistent asset growth, gearing ratios remain low
Consistent asset growth, gearing ratios remain low Total assets composition Gearing remains low1 R’bn 14 800 12.4x 11.9x 690 12 638 600 10 8.4x 7.8x 8 400 6 4 200 2 0 0 2022 2023 2024 2025 2026 2022 2023 2024 2025 2026 Net core loans Cash and Near Cash Balances Other Assets Total Gearing Ratio Core
Slide 24: Substantial surplus liquidity
Substantial surplus liquidity • We maintain a high level of readily available, high quality liquid assets, targeting a minimum cash to customer deposit ratio of 25%. Cash and near cash balances Cash and near cash balances have increased significantly since 31 March 2016 (5% CAGR) to R199.0bn at 31 M
Slide 25: Healthy loan to deposit ratio, stable customer deposit base
Healthy loan to deposit ratio, stable customer deposit base Fully self funded from customer deposits: healthy loan to deposit ratio R’bn 600 100% 503.4 500 468.2 80% • Customer deposits have grown by 127.4% (c.8.6% CAGR p.a.) 397.3 400 367.6 since 2016 to R503.4bn at 31 March 2026 60% 300 • Loans an
Slide 26: Diversified funding strategy
Diversified funding strategy • Investec’s funding consists primarily of customer deposits • Investec adopts a conservative and prudent funding strategy Conservative and prudent funding strategy 1 Maintaining a high base of high-quality liquid assets 5 Low reliance on wholesale funding 2 Diversifying
Slide 27: Exposures in a select target market
Exposures in a select target market • Credit and counterparty exposures are to a select target market: – high net worth and high-income clients – mid to large sized corporates – government, public sector bodies and institutions • We typically originate loans with the intent of holding these assets t
Slide 28: Asset quality
Asset quality Core loans and asset quality R'bn 500 4% 397.3 400 300 2.1% 2% 200 100 0.14% 0.14% 0 0% 2021 2022 2023 2024 2025 2026 Net core loans (LHS) Credit loss ratio (RHS) Stage 3 as a % of gross core loans subject to ECL (RHS) • Credit quality metrics on core loans and advances for the year en
Slide 29: Asset quality metrics
Asset quality metrics Provision build Gross core loans subject to ECL by stage R’mn R’mn 3 000 as % of 5.2% 5.9% 2.4% 2.6% 2.6% gross core 2.5% 1.8% 1.6% 2.7% 2.1% 1 893 20 000 loans 2 000 2 530 2 238 17 589 1 879 16 328 15 000 1 000 623 250 286 271 12 203 760 644 507 603 10 340 9 715 9 920 0 10 000
Slide 30: Credit ratings
Credit ratings Current credit ratings Historical credit ratings Moody’s Rating Outlook Long-Term Foreign Currency Current Nov 20* May 20* Apr 20* National scale long-term deposit rating Aaa.za Positive Deposit Rating National scale short-term deposit rating P-1.za Moody’s Baa3 Ba2 Ba1 Ba1 Global lon
Slide 31: Peer analysis
Peer analysis 31
Slide 32: Peer group companies
Peer group companies Long-Term Deposit Rating S&P Fitch Moody's Foreign National Foreign National Viability National Baseline credit Global currency* scale currency* scale ratings scale assessment Absa Bank Limited n/a za.AAA BB AA+(zaf) bb Baa3 Aaa.za ba2 FirstRand Bank Limited BB za.AAA BB AA+(zaf
Slide 33: Peer group companies (cont.)
Peer group companies* (cont.) Investec is one of the more proportionately liquid of the Big 5 banks and is a net provider of funds to the interbank market in South Africa Liquidity: regulatory liquidity coverage ratio Asset quality ratios 250.0 6.00% 5.10% 4.93% 185.7 5.00% 200.0 4.00% 3.41% 3.37% 1
Slide 34: Peer group companies (cont.)
Peer group companies (cont.) Definitions and/or explanations of certain ratios: • A capital ratio is a measure of a bank's available capital expressed as a percentage of a bank's risk-weighted assets. It is based on regulatory qualifying capital (including common equity tier 1, additional tier 1 and
Slide 35: IBL Appendices
IBL Appendices 35
Slide 36: Macroeconomic scenarios – March 2026
Macroeconomic scenarios – 31 March 2026 Key judgements at 31 March 2026 R'bn South Africa GDP forecast The measurement of ECL requires the use of multiple economic scenarios to calculate a 6 400 probability weighted forward-looking estimate. These scenarios are updated at least twice a year, or more
Slide 37: IBL: salient financial features
IBL: salient financial features Key financial statistics 31 March 2026 31 March 2025 % change Operating income (R’million) 21 208 20 004 6.0% Operating costs (R’million) 10 492 9 596 9.3% Adjusted operating profit (R’million) 10 108 9 938 1.7% Headline earnings attributable to ordinary shareholders
Slide 38: IBL: income statement
IBL: income statement R’million 31 March 2026 31 March 2025 % change Interest income 51 440 53 363 (3.6)% Interest expense (35 809) (37 923) (5.6)% Net interest income 15 631 15 440 1.2% Fee and commission income 4 128 3 361 22.8% Fee and commission expense (670) (434) 54.6% Investment income 1 269
Slide 39: IBL: balance sheet
IBL: balance sheet R’million 31 March 2026 31 March 2025^ Assets Cash and balances at central banks 19 511 19 268 Loans and advances to banks 7 500 10 002 Non-sovereign and non-bank cash placements 14 886 10 100 Reverse repurchase agreements and cash collateral on securities borrowed 66 849 62 826 S
Slide 40: IBL: balance sheet (cont.)
IBL: balance sheet (cont.) R’million 31 March 2026 31 March 2025^ Liabilities Deposits by banks 41 595 30 778 Derivative financial instruments 20 418 16 881 Other trading liabilities 24 594 23 267 Repurchase agreements and cash collateral on securities lent 10 850 19 962 Customer accounts (deposits)
Slide 41: IBL: asset quality
IBL: asset quality R’million 31 March 2026 31 March 2025 Gross core loans 400 474 370 899 of which FVPL (excluding fixed rate loans) 1 198 1 067 Gross core loans subject to ECL* 399 276 369 832 Stage 1 380 441 350 197 Stage 2 10 340 9 715 of which past due greater than 30 days 595 749 Stage 3 8 495
Slide 42: IBL: analysis of core loans by risk category
IBL: analysis of core loans by risk category Gross core loans at Gross core loans at amortised cost and FVPL (subject to ECL) FVPL (not subject to Gross core loans ECL) Stage 1 Stage 2 Stage 3 Total Gross Gross Gross Gross ECL ECL ECL ECL At March 31, 2026 Exposure Exposure Exposure Exposure Lending
Slide 43: 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 44: Sustainability highlights (Investec Bank Limited)
Sustainability highlights (Investec Bank Limited) 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 Committed to zero thermal Fossil fuels as % We introd