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Article: Investec down 25% for year.
- Article from:
- Europe Intelligence Wire
- Article date:
- May 26, 2009
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(From Banking Newslink)
Investec reported net attributable of GBP292.0m (€332.5m $464.6m YEN43,699m Y3,170m) for the 12 months to the end of March, down 25%.
In the table below the common pattern for this year can be seen with NII up and non-interest income down and impairments more than doubled. This leads to operating income after loan loss impairments down 9.9%. Operating costs were not trimmed much and insurance contributed less leading to an operating profit down 25.5%.
By division it was private clients and investment banking that that were down the most at an operating profit level. Capital markets and asset management showed ...