Investec Group (INL) Earnings Call Transcripts

Investec Group's Latest Earnings Call - May 21, 2026

In the first quarter of fiscal year 2026, Investec Group reported a 4.2% increase in total revenue to GBP 951 million, with adjusted earnings per share rising by 4.8%. The company maintained its guidance for return on equity (ROE) between 13% and 14% for the upcoming fiscal year, indicating a stable outlook despite a challenging macroeconomic environment. Management remains committed to achieving a ROE of 16% by 2030, supported by ongoing investments in technology and client services.

Reported metrics

Guidance from management

Investec maintains its guidance for ROE of 13% to 14% for FY '27, with a long-term target of 16% by 2030. Management indicated that the investment program will begin to yield positive results by 2028.

What management said

We start in the room. Thank you. The order is always important. Any questions from inside this room. Okay. No questions. I'm sure Stephen Koseff is listening in from Sydney. He says, if you don't get questions, just move on. So I will move on to Johannesburg. I've got Donald with a big smile. Donny? We have an echo, if we could fix the echo, please.

No questions in the room, but we do have a couple of questions online. The first question is from [indiscernible] from Matrix Fund Managers. Well done on a strong solid set of results, credit losses in South Africa remain exceptionally low. To what extent is that driven by the quality of the book versus a deliberately conservative risk culture. Put differently, is there a risk that the group is leaving growth and pr...

What analysts pressed on

Analysts expressed concerns regarding the potential impact of geopolitical tensions on interest rates and overall economic stability. There were also questions about the sustainability of profit growth amidst rising competition in the wealth management sector.

Main topics on the call

• Resilient Earnings Amid Challenges — Investec reported adjusted earnings per share growth of 4.8% in a challenging environment, highlighting the company's resilience. Fani Titi stated, "We see great volatility and yet our business has been able to produce r...
• Investment Program and Future Growth — Management emphasized a significant investment program aimed at enhancing client services, with expectations for positive results by 2028. Titi noted, "We are on track to achieving... returns that we're committed to."
• Stable Cost-to-Income Ratio — The cost-to-income ratio was reported at 52.9%, within the guided range of 52% to 54%. Nishlan Samujh mentioned, "Cost discipline continues, although I must point out that because we're making significant investments... ...
• Strong Growth in Funds Under Management — Funds under management increased by 15.4%, demonstrating strong client inflows. Samujh remarked, "We did have an acquisition in this period bolstering our activity in Switzerland, which has added just over GBP 300 millio...

Read the full Investec Group transcript (May 21, 2026) → Summary generated from the call transcript; every figure above is stated by management on the record.

Earnings Call History

EarningsCalls.dev has 23 Investec Group earnings call transcripts on record, spanning March 20, 2020 to May 21, 2026. Based on this history, Investec Group reports quarterly. The most recent call on file is dated May 21, 2026. The full list is below — each row opens the complete, free-to-read transcript.

Ticker

INL

Exchange

JSE

Country

ZA

Sector

Financials

Industry

Capital Markets

Calls on record

23

First call

March 20, 2020

Most recent

May 21, 2026

Reporting cadence

quarterly