As it reported underwhelming results from its UK wealth business, Investec also faces a potential hit of around R700 million as part of a vehicle loan probe in that country.
But the group has downplayed the potential impact of the investigation into vehicle finance commissions in the UK, which may impact its auto lending business in its most important non-SA market. The niche private bank and wealth manager, whose operations mainly span SA and the UK, said in its annual results on Thursday that it had set aside £30 million for the potential impact of the probe by the UK's Financial Conduct Authority . South Africans need to be in the know if we want to create a prosperous future. News24 has kept the country informed for 25 years, and we're about to enter a new chapter of fearless journalism.