Investec forecasts H1 2026 earnings to align with prior period

Investec Group anticipates its adjusted earnings per share for 1H2026 to be between 38.7p and 41.5p, representing a range from c.2% behind to c.5% ahead of the prior period. Headline earnings per share are expected to be between 35.2p and 38.0p, while basic earnings per share are forecast at 36.0p to 38.8p. Pre-provision adjusted operating profit is projected between £509.4m and £540.3m.

In Southern Africa, the Specialist Bank's adjusted operating profit is expected to be up to c.7% ahead in Rands. The overall Southern African business adjusted operating profit is projected to be c.5% behind to flat versus the prior period, with an ROE of c.18.5%. The Investec Limited CET1 ratio at June 30, 2025, was 15.3%.

The UK business, including Rathbones, expects adjusted operating profit to be c.1% behind to c.6% ahead of the prior period, with a ROTE of c.13%. Core loans increased by 4.7% annualised to £33.0bn, while customer deposits decreased by 1.9% annualised to £40.8bn. FUM in the Southern African Wealth business rose by 7.8% to £25.2bn.