Investec eyes business banking for growth

  • 📰 Moneyweb
  • ⏱ Reading Time:
  • 43 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 21%
  • Publisher: 77%

Nederland Nieuws Nieuws

Nederland Laatste Nieuws,Nederland Headlines

Plans to offer business owners the same high levels of service they get from private banking.

Investment banking giant Investec is not concerned that an expected drop in interest rates could impact its sound revenue and profit growth as it has enough growth opportunities across its business. One area of growth it plans to target in the year ahead is business banking.

“We currently have just over 2 000 clients and we want to have 3 000 clients in the next financial year.” In a telephonic results presentation early on Thursday morning, group CEO Fani Titi said Investec delivered a strong financial performance notwithstanding the “uncertain operating environment that prevailed throughout the financial year”.

This was primarily driven by higher average interest-earning assets, positive endowment effect from higher interest rates, increased client activity, and continued client acquisition. He points out that Investec could face headwinds when interest rates eventually drop. “If interest rates come down 200 basis points it will impact profits, although not that significant that it will prevent them from growing profits.”Banks generally earn higher profits on loans when interest rates are high.

Wij hebben dit nieuws samengevat zodat u het snel kunt lezen. Bent u geïnteresseerd in het nieuws, dan kunt u hier de volledige tekst lezen. Lees verder:

 /  🏆 5. in NL
 

Bedankt voor uw reactie. Uw reactie wordt na beoordeling gepubliceerd.

Nederland Laatste Nieuws, Nederland Headlines

Similar News:Je kunt ook nieuwsberichten lezen die vergelijkbaar zijn met deze die we uit andere nieuwsbronnen hebben verzameld.

What’s Next in Business Banking presented by InvestecAn exciting new South African podcast series focused on business banking is coming soon.
Bron: mybroadband - 🏆 11. / 67 Lees verder »

Investec faces double UK whammy amid car loan probe, lower profit from wealth businessInvestec faces double UK whammy amid car loan probe, lower profit from wealth business
Bron: News24 - 🏆 4. / 80 Lees verder »