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Share Name Share Symbol Market Type Share ISIN Share Description
Investec Plc LSE:INVP London Ordinary Share GB00B17BBQ50 ORD GBP0.0002
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  2.40 0.77% 313.20 313.10 313.40 319.80 310.70 312.50 1,120,742 13:29:55
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
General Financial 1,922.3 258.7 25.2 12.4 2,180

Investec PLC Investec Limited Capital Disclosures

30/07/2021 3:00pm

UK Regulatory (RNS & others)


TIDMINVP

RNS Number : 1010H

Investec PLC

30 July 2021

 
 Investec Limited                         Investec plc 
  Incorporated in the Republic of South    Incorporated in England 
  Africa                                   and Wales 
  Registration number 1925/002833/06       Registration number 3633621 
  JSE share code: INL                      LSE share code: INVP 
  NSX share code: IVD                      JSE share code: INP 
  BSE share code: INVESTEC                 ISIN: GB00B17BBQ50 
  ISIN: ZAE000081949                       LEI: 2138007Z3U5GWDN3MY22 
  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 Financial Conduct Authority and/or the JSE Listing Requirements.

Accordingly, we advise of the following:

Investec Limited - Basel III disclosures at 30 June 2021

Capital disclosures

Investec Limited calculates capital resources and requirements at a group level using the Basel III framework, as implemented in South Africa by the South African Prudential Authority, in accordance with the Bank's Act and all related regulations. Investec Limited continues to hold capital in excess of regulatory requirements and board-approved minimum targets .

 
                                          Including unappropriated 
                                                   profits 
                                      Investec Limited*           IBL* 
 As at 30 June 2021                                R'mn           R'mn 
===================================  ==================  ============= 
 
 Common equity tier 1 capital                    44,317         43,792 
                                     ------------------  ------------- 
 
 Additional tier 1 capital                        2,727          1,936 
 
 Tier 1 capital                                  47,044         45,728 
                                     ------------------  ------------- 
 
 Tier 2 capital                                  10,405         13,326 
 
 Total regulatory capital                        57,449         59,054 
                                     ------------------  ------------- 
 
 Risk-weighted assets per 
  risk type: 
 Credit risk                                    260,201        256,442 
 Counterparty credit risk                        11,393         11,393 
 Credit valuation adjustment 
  risk                                            6,523          6,523 
 Equity risk                                     24,301          9,542 
 Market Risk                                      6,120          3,422 
 Operational risk                                26,832         22,193 
                                                         ------------- 
 Total risk-weighted assets                     335,370        309,515 
                                     ------------------  ------------- 
 
 Total minimum capital requirement               36,891         34,047 
 
 Capital ratios 
 Common equity tier 1 ratio                       13.2%          14.1% 
 Tier 1 ratio                                     14.0%          14.8% 
 Total capital adequacy 
  ratio                                           17.1%          19.1% 
 

Leverage ratio disclosures

 
                         Including unappropriated 
                                  profits 
                       Investec Limited*       IBL* 
 As at 30 June 2021                 R'mn       R'mn 
====================  ==================  ========= 
 Tier 1 capital                   47,044     45,728 
 Total exposure                  618,715    584,373 
 Leverage ratio                     7.6%       7.8% 
 
 
                                       Excluding unappropriated 
                                                profits 
                                      Investec Limited*      IBL* 
 As at 30 June 2021                                R'mn      R'mn 
===================================  ==================  ======== 
 
 Common equity tier 1 capital                    41,456    42,399 
                                     ------------------  -------- 
 
 Additional tier 1 capital                        2,733     1,937 
 
 Tier 1 capital                                  44,189    44,336 
                                     ------------------  -------- 
 
 Tier 2 capital                                  10,467    13,326 
 
 Total regulatory capital                        54,656    57,662 
                                     ------------------  -------- 
 
 Risk-weighted assets per 
  risk type: 
 Credit risk                                    259,476   256,126 
 Counterparty credit risk                        11,393    11,393 
 Credit valuation adjustment 
  risk                                            6,523     6,523 
 Equity risk                                     23,839     9,542 
 Market Risk                                      6,120     3,422 
 Operational risk                                26,862    22,193 
 Total risk-weighted assets                     334,183   309,199 
                                     ------------------  -------- 
 
 Total minimum capital requirement               36,760    34,012 
 
 Capital ratios 
 Common equity tier 1 ratio                       12.4%     13.7% 
 Tier 1 ratio                                     13.2%     14.3% 
 Total capital adequacy 
  ratio                                           16.4%     18.6% 
 

Leverage ratio disclosures

 
                        Excluding unappropriated 
                                 profits 
                       Investec Limited*      IBL* 
 As at 30 June 2021                 R'mn      R'mn 
====================  ==================  ======== 
 Tier 1 capital                   44,189    44,336 
 Total exposure                  618,315   584,246 
 Leverage ratio                     7.1%      7.6% 
 

* Where: IBL is Investec Bank Limited consolidated. The information for Investec Limited includes the information for IBL.

Liquidity disclosures

Liquidity coverage ratio (LCR)

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.

With effect from 1 April 2020, the minimum LCR requirement in South Africa was reduced from 100% to 80%, until such time as the South African Prudential Authority (PA) is of the view that the financial markets have normalised post COVID-19. This applies for both Investec Bank Limited (IBL) (solo basis) and Investec Bank Limited (IBL) consolidated group.

In accordance with the provisions of section 6(6) of the South African Banks Act 1990 (Act No. 94 of 1990), banks are directed to comply with the relevant LCR disclosure requirements. This disclosure is in accordance with Pillar 3 of the Basel III liquidity accord, as specified by BCBS d400 (2017) and Directive D1/2018.

The following table sets out the LCR for IBL (solo basis) and IBL consolidated group for the quarter ending 30 June 2021:

 
                               IBL (solo basis) -      IBL consolidated group 
                                Total weighted value    - Total weighted value 
 High quality liquid assets 
  (HQLA) (R'mn)                               97,587                    99,249 
                              ----------------------  ------------------------ 
 Net cash outflows (R'mn)                     65,633                    62,895 
                              ----------------------  ------------------------ 
 Actual LCR                                   149.3%                    158.5% 
============================  ======================  ======================== 
 Required LCR                                   80%^                      80%^ 
                              ----------------------  ------------------------ 
 

^ - temporarily reduced from 100% by the PA.

The values in the table are calculated as the simple average of 91 calendar daily values over the period 1 April 2021 to 30 June 2021 for IBL (solo basis). IBL consolidated group values use daily values for IBL (solo basis), while those for other group entities use the average of April, May and June 2021 month-end values.

Net stable funding ratio (NSFR)

The objective of the NSFR is to promote 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 minimum NSFR requirement in South Africa is 100%. This applies to both IBL (solo basis) and IBL consolidated group.

In accordance with the provisions of section 6(6) of the South African Banks Act 1990 (Act No. 94 of 1990), banks are directed to comply with the relevant NSFR disclosure requirements. This disclosure is in accordance with Pillar 3 of the Basel III liquidity accord, as specified by Directive 11/2015 and Directive 01/2018.

The following table sets out the NSFR for IBL (solo basis) and IBL consolidated group as at 30 June 2021:

 
                  IBL (solo basis)   IBL consolidated group 
 Actual NSFR                114.7%                   116.0% 
                 -----------------  ----------------------- 
 Required NSFR                100%                     100% 
                 -----------------  ----------------------- 
 

Further disclosures with respect to Investec Limited's and Investec Bank Limited's capital and liquidity will be provided on the Investec website in due course as required by the relevant regulations.

30 July 2021

Sponsor: Investec Bank Limited

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