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Investec expects earnings per share to surge as much as 106%

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CEO Fani Titi says the bank has no major exposure to Russia or Ukraine, but continues to monitor whether clients are on Western sanctions lists

Investec has advised shareholders to expect a significant jump in earnings when it publishes its annual results in April, with the niche bank saying its operating performance has risen above pre-pandemic levels on the back of a global economic recovery.

The private bank and wealth manager, which is listed in Johannesburg and London, published a pre-close trading update on Friday, expecting adjusted pretax operating profit for the year to end-March 2022 to be between £642m and £683m. That compares with the £377.6m reported the previous financial year...

 

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