Investec signals modest earnings growth
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Investec has indicated modest earnings growth, expecting a 3-6% rise in earnings per share, with profit before tax projected between £940.3m and £965.9m. The South Africa business arm anticipates a 4% increase in operating profit, while the UK is expected to remain flat. The integration of Investec Wealth and Investment into Rathbones is progressing well, exceeding expectations. Core loans rose 7.4% to £36.3bn, and customer deposits increased by 5.7% to £45.5bn. Funds under management in South Africa grew by 26.7% to £29.6bn.
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