Investec Limited
Incorporated in the Republic of South Africa
Registration number 1925/002833/06
JSE share code: INL
JSE Hybrid code: INPR
JSE debt code: INLV
NSX share code: IVD
BSE share code: INVESTEC
ISIN: ZAE000081949
LEI: 213800CU7SM6O4UWOZ70
|
Investec plc Incorporated
in England and Wales
Registration number 3633621
LSE share code: INVP
JSE share code: INP
ISIN: GB00B17BBQ50
LEI: 2138007Z3U5GWDN3MY22
|
As part of the dual listed company structure,
Investec plc and Investec Limited notify both the London Stock
Exchange and the JSE Limited of matters which are required
to be disclosed under the Disclosure Guidance, Transparency Rules
(DTR) and Listing Rules of the United Kingdom Listing Authority
(the "UKLA") and/or the JSE Listing Requirements.
Accordingly, we
advise of the following:
Pillar III quarterly disclosures at
31 December 2023
Capital adequacy and leverage disclosures
Investec plc and Investec Limited
calculate capital resources and requirements using the Basel III
framework, as implemented in their respective jurisdiction by the
Prudential Regulation Authority and South African Prudential
Authority.
The following table sets out the
capital and leverage metrics for the Investec plc group, Investec
Limited group and Investec Bank Limited group (IBL):
|
Investec
plc^*
|
Investec
Limited^
|
IBL
|
£'million
|
R'million
|
R'million
|
Common Equity Tier 1
ratio**
|
11.5%
|
13.0%
|
16.0%
|
Tier 1 ratio
|
12.8%
|
14.4%
|
17.2%
|
Total capital ratio
|
16.5%
|
17.0%
|
20.0%
|
Risk weighted assets
|
19
034
|
291
569
|
272
577
|
Leverage ratio
|
8.9%
|
6.1%
|
7.0%
|
^ The information for Investec
plc includes the information for Investec Bank plc. The information
for Investec Limited includes the
information for
IBL.
* Investec plc's capital
and leverage ratios exclude quarterly profits and associated
foreseeable charges and dividends for the
period 1 October
to 31 December 2023. In accordance with the Prudential Regulation
Authority rules, quarterly profits may only
be included in a
firm's capital position once the profits have been independently
verified by an external audit firm.
** Investec Limited's and IBL's
capital information includes unappropriated profits. If
unappropriated profits are excluded from
capital
information,
Investec Limited's and IBL's CET1 ratio would be 34bps and 43bps
lower respectively and leverage ratio would be
15bps and 17bps
lower respectively.
Liquidity Disclosures
Liquidity coverage ratio (LCR) and
net stable funding ratio (NSFR)
The objective of the LCR is to
promote the short-term resilience of the liquidity risk profile of
banks by ensuring that they have sufficient high-quality liquid
assets to survive a significant stress scenario lasting 30 calendar
days. The NSFR promotes the resilience of
the banking sector by requiring banks to maintain a stable funding
profile in relation to the composition of their assets and
off-balance sheet activities on an ongoing structural basis. By
ensuring that banks do not embark on excessive maturity
transformation that is not sustainable, the NSFR is intended to
reduce the likelihood that disruptions to a bank's funding sources
would erode its liquidity position, increase its risk of failure,
and potentially lead to broader systemic risk.
The following table sets out the LCR
and NSFR for the Investec plc group, IBL (solo basis) and IBL
group:
|
Investec
plc*
|
IBL (solo basis)
**
|
IBL consolidated group
**
|
Actual LCR
|
394%
|
165.5%
|
176.1%
|
Actual NSFR
|
143%
|
116.5%
|
116.1%
|
* For Investec plc the
LCR ratio disclosed is the trailing12-month average ratio and the
NSFR ratio is the trailing 4-quarter average
ratio.
** The values in the table are
calculated as the simple average of 91 calendar daily values over
the period 1 October 2023
to
31 December 2023
for IBL (solo basis). IBL group values use daily values for IBL
(solo basis), while those for other group entities
use the average of
October, November and December 2023 month-end values.
The detailed capital and liquidity
disclosures for the above entities are available on the Investec
website in the quarterly Pillar 3 disclosure reports, as required
by the relevant regulations.
29 February 2024
Sponsor: Investec Bank
Limited