Investec profits rise 7.1% as it sets aside £30m for motor finance review

Annual results

Investec has posted a 7.1% increase in pre-provision adjusted operating profit to £963.6m for the year ended 31 March 2024.

In its annual results published today (23 May), the firm reported a rise in funds under management of 5.5% for its South Africa operation to £20.9bn. In the UK, Investec Wealth & Investment is now part of the Rathbones Group, following completion of the merger in September 2023. Rathbones/IW&I UK funds under management stood at £107.6bn as of the end of March 2024, up from £40.7bn a year prior. Investec owns 41.25% of Rathbones. Rathbones and Investec W&I complete merger to create £100bn wealth manager The company also revealed it has set aside a provision of £30m for the "poten...