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Investec (comprising Investec plc and Investec Limited) – Basel III disclosures at 31 December 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 31 December 2015
2 February 2016
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% and a total capital adequacy ratio range of 14% to 17% on a consolidated basis for each of Investec plc
and Investec Limited.
Investec Investec
plc*^ IBP*^ Limited*^ IBL*^
As at 31 Dec 2015 GBP 'mn GBP 'mn R'mn R'mn
Common equity tier 1 capital before deductions 1,708 1,810 27,037 29,576
Deductions (609) (404) 1,093 1,176
Common equity tier 1 capital 1,099 1,406 28,130 30,752
Additional tier 1 capital 130 - 3,924 1,074
Tier 1 capital 1,229 1,406 32,054 31,826
Tier 2 capital 533 590 10,149 10,454
Total regulatory capital 1,762 1,996 42,203 42,280
Risk-weighted assets per risk type:
Credit risk 7,942 7,857 228,644 226,801
Counterparty credit risk 444 447 6,704 6,704
Credit valuation adjustment risk 48 49 2,839 2,839
Equity risk 625 579 38,701 45,508
Market risk 886 855 4,575 4,151
Operational risk 1,784 1,416 24,831 16,522
Total risk-weighted assets 11,729 11,203 306,294 302,525
Total minimum capital requirement 938 896 30,629 30,253
Capital ratios
Common equity tier 1 ratio 9.4% 12.6% 9.2% 10.2%
Tier 1 ratio 10.5% 12.6% 10.5% 10.5%
Total capital ratio 15.0% 17.8% 13.8% 14.0%
Leverage ratio disclosures
Investec Investec
plc*^ IBP*^ Limited*^ IBL*^
As at 31 Dec 2015 GBP 'mn GBP 'mn R'mn R'mn
Tier 1 capital 1,229 1,406 32,054 31,826
Total exposure 17,424 17,359 452,353 419,847
Leverage ratio 7.1% 8.1% 7.1% 7.6%
* 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. Investec plc’s
capital information includes unaudited profits for the last quarter. If unaudited profits are excluded from the capital information, all of
Investec plc’s capital ratios would be 20bps lower. IBL’s capital information includes unappropriated profits. If unappropriated profits are
excluded from the capital information, all of IBL’s capital ratios would be 13bps lower. Investec Limited 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) 55,030 55,063
Net cash outflows 46,723 44,105
Actual LCR (%) 118.8 126.2
Required LCR (%) 60.0 60.0
The values in the table are calculated as the simple average of daily observations over the period 1 October
2015 to 31 December 2015 for Investec Bank Limited (IBL) bank solo. 57 business day observations were
used. IBL consolidated group values use daily values for IBL bank solo, while those for other group entities
use the average of October, November and December 2015 month-end values.
Johannesburg & London
Sponsor: Investec Bank Limited
Date: 02/02/2016 10:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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