(Adds details, share price)
March 14 Investec Plc expects
higher full-year revenue and operating profit as a recovery in
equity markets boosted the company's asset management and wealth
and investment units.
The South Africa-focused bank, which is also listed in
London, also said it expects its specialist banking businesses
to report results for the year ended March 31 ahead of the
previous year, helped by the UK unit.
"The UK economy has been performing better than initially
expected, however the possibility of a hard Brexit continues to
create uncertainty and could impact overall levels of economic
growth," the company said.
Investec, which is being investigated along with more than a
dozen other banks for colluding to rig South Africa's rand, said
it had not yet been received relevant information on the precise
allegations against it.
Investec said last month that South Africa's Competition
Commission's case against the bank was confined to the conduct
of a single trader.
The company's shares rose about 0.7 percent to trade at its
highest price since July 2015. Over half of its 30-day average
volumes were traded by 1038 GMT on the London Stock Exchange.
Investec said it expects its capital ratios - the percentage
of a bank's capital to risk-weighted assets - to be within the
group's target total capital adequacy range, for the year to
March 31 for both Investec Plc and Investec Ltd.
Common equity tier 1 ratio is expected to remain slightly
below the 10 percent target for Investec Ltd while Investec Plc
is expected to remain ahead of target.
The company also said third-party assets under management
rose 24.3 percent to 151.2 billion pounds ($183.4 billion) for
the period from March 31 to Feb.28.
($1 = 0.8243 pounds)
(Reporting by Arathy S Nair and Sanjeeban in Bengaluru; editing
by Susan Thomas)