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Investec (comprising Investec plc and Investec Limited) – Basel III disclosures at 30 June 2015
Investec Limited Investec plc
Incorporated in the Republic of South Africa Incorporated in England and Wales
Registration number 1925/002833/06 Registration number 3633621
JSE share code: INL LSE share code: INVP
NSX share code: IVD JSE share code: INP
BSE share code: INVESTEC ISIN: GB00B17BBQ50
ISIN: ZAE000081949
Investec (comprising Investec plc and Investec Limited) – Basel III disclosures at 30 June 2015
29 July 2015
Capital disclosures
The disclosures below are made with respect to Basel III quarterly disclosure requirements. The group holds
capital in excess of regulatory requirements targeting a minimum common equity tier one capital ratio above
10% by March 2016 and a total capital adequacy ratio range of 14% to 17% on a consolidated basis for each
of Investec plc and Investec Limited. The group is comfortable with its common equity tier 1 ratio target at a
10% level, as its current leverage ratios for both Investec Limited and Investec plc are well above 7%.
Investec Investec
plc*^ IBP*^ Limited*^ IBL*^
As at 30 June 2015 GBP 'mn GBP 'mn R'mn R'mn
Common equity tier 1 capital before deductions 1,719 1,775 26,656 28,046
Deductions (521) (400) (428) 302
Common equity tier 1 capital 1,198 1,375 26,228 28,348
Additional tier 1 capital 130 - 4,596 1,074
Tier 1 capital 1,328 1,375 30,824 29,422
Tier 2 capital 550 590 9,307 10,370
Total regulatory capital 1,878 1,965 40,131 39,792
Risk-weighted assets per risk type:
Credit risk 7,534 7,383 200,974 198,229
Counterparty credit risk 452 470 5,095 5,095
Credit valuation adjustment risk 47 48 2,623 2,623
Equity risk 735 740 38,887 43,079
Market risk 924 902 3,240 3,000
Operational risk 1,784 1,416 23,355 14,921
Total risk-weighted assets 11,476 10,959 274,174 266,947
Total minimum capital requirement 918 877 27,417 26,695
Capital ratios
Common equity tier 1 ratio 10.4% 12.5% 9.6% 10.6%
Tier 1 ratio 11.6% 12.5% 11.2% 11.0%
Total capital ratio 16.4% 17.9% 14.6% 14.9%
Leverage ratio disclosures
Investec Investec
plc*^ IBP*^ Limited*^ IBL*^
As at 30 June 2015 GBP 'mn GBP 'mn R'mn R'mn
Tier 1 capital 1,328 1,375 30,824 29,422
Total exposure 17,559 17,408 385,449 358,589
Leverage ratio 7.6% 7.9% 8.0% 8.2%
* Where: IBP is Investec Bank plc consolidated and IBL is Investec Bank Limited consolidated. The information for Investec plc includes
the information for IBP. The information for Investec Limited includes the information for IBL.
^ The capital adequacy disclosures follow Investec's normal basis of presentation so as to show a consistent basis of calculation across
the jurisdictions in which the group operates. For Investec plc and IBP this does not include the deduction of forseeable dividends when
calculating CET1 capital as now required under the Capital Requirements Regulation and EBA technical standards. If forseeable
dividends are deducted Investec plc’s CET1 ratio would be 40bps lower. Investec Limited’s capital information includes unappropriated
profits. If unappropriated profits are excluded from the capital information, all of Investec Limited’s capital ratios would be 11bps lower.
IBL has no unappropriated profits included in its capital information.
Liquidity coverage ratio disclosure
The objective of the liquidity coverage ratio (LCR) is to promote the short-term resilience of the liquidity risk
profile of banks by ensuring that they have sufficient high quality liquid assets to survive a significant stress
scenario lasting 30 calendar days. The LCR was phased in at 60% on 1 January 2015, and will increase by
10% each year to 100% on 1 January 2019.
In accordance with the provisions of section 6(6) of the South African Banks Act 1990 (Act No. 94 of 1990),
banks are directed to comply with the relevant LCR disclosure requirements, as set out in Directive 6/2014
and Directive 11/2014. This disclosure is in accordance with Pillar 3 of the Basel III liquidity accord.
The following table sets out the LCR for Investec Bank Limited (solo basis) and Investec Bank Consolidated
Group.
Investec Bank Limited Solo – Investec Bank Limited
Total weighted value Consolidated Group – Total
R’mn weighted value
High quality liquid assets (HQLA) 44,580 44,636
Net cash outflows 42,746 40,914
Actual LCR (%) 104.7 109.6
Required LCR (%) 60.0 60.0
The values in the table are calculated as the simple average of daily observations over the period 1 April
2015 to 30 June 2015. 54 business day observations were used.
29 July 2015
London and Johannesburg
Sponsor
Investec Bank Limited
Date: 29/07/2015 09:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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