Investec's profits surpass £1bn as group launches share buybacks

Up from £964m in 2024

Investec's profits have surpassed £1bn for the first time, the investment firm said in its full year results today (22 May).

The group's pre-provision adjusted operating profit increased 7.8% to slightly over £1bn, up from £964m in 2024. This was driven by revenue growth of 5% on the back of new clients, net inflows and growth in income-earning assets, while operating costs grew 2.8%. Investec posted a return on equity of 13.9%, down from 14.6% in 2024, but within the group's medium-term target range of 13% to 17%, and in line with expectations after the 2023 merger of IW&I UK and Rathbones, which bolstered the equity base. UK outflows at £1.2bn in March as investors slowly return to funds after difficult q...