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RNS Number : 3280R Investec PLC 28 February 2023
Investec Limited Investec plc
Incorporated in the Republic of South Africa Incorporated in England and Wales
Registration number 1925/002833/06
Registration number 3633621
JSE share code: INL
LSE share code: INVP
JSE Hybrid code: INPR JSE share code: INP
ISIN: GB00B17BBQ50
JSE debt code: INLV
LEI: 2138007Z3U5GWDN3MY22
NSX share code: IVD
BSE share code: INVESTEC
ISIN: ZAE000081949
LEI: 213800CU7SM6O4UWOZ70
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 2022
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*** 11.0% 14.0% 15.3%
Tier 1 ratio 12.4% 14.9% 16.1%
Total capital ratio 16.5% 17.0% 18.8%
Risk weighted assets 17 864 329,436 300,401
Leverage ratio 8.7% 7.3% 7.7%
^ 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 2022. 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.
** The South African Prudential Authority approved moving IPRE to AIRB and
HVCRE to the slotting approach effective 31 January 2023. On full adoption of
these approaches, the CET1 ratios for Investec Limited and IBL will increase
by approximately 200bps and 244bps respectively.
*** 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 122bps and 49bps 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 392% 139% 144%
Actual NSFR 145% 116% 116%
* For Investec plc the LCR ratio disclosed is the 12-month average ratio.
** The values in the table are calculated as the simple average of 92 calendar
daily values over the period 1 October 2022 to 31 December
2022 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 2022 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.
28 February 2023
Sponsor: Investec Bank Limited
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