March 14, 2017 / 10:02 AM / 6 months ago

BRIEF-Investec sees FY revenue ahead of last year

March 14 (Reuters) - Investec Plc:

* Significant macro events over financial year have impacted group’s operating environment

* Possibility of a hard Brexit continues to create uncertainty and could impact overall levels of economic growth

* South African economy has been weak as politics continue to dominate developments

* FY revenue is expected to be well ahead of prior year

* FY impairments are expected to be in line with prior year

* FY expenses are expected to grow marginally faster than revenue

* For year to March 31 2017, common equity tier 1 ratio is expected to remain slightly below group’s target of 10 pct for Investec Limited

* For March 31 2016 to Feb. 28 2017: - third party assets under management increased 24.3 pct to 151.2 bln stg- up 13.9 pct on a currency neutral basis

* Operating profit is expected to be comfortably ahead of prior year

* FY capital ratios are expected to be within group’s target total capital adequacy range

* For the period March 31 2016 to Feb. 28 2017, customer accounts (deposits) up 23.1 pct to 29.6 bln stg, up 5.5 pct on a currency neutral basis

* For year to March 31 2017 common equity tier 1 ratio is expected to remain ahead of target for Investec Plc

* For the period 31 march 2016 to Feb. 28 2017, core loans and advances up 27.1 pct to 23.0 bln stg, up 7.2 pct on a currency neutral basis.

* FY group expects credit loss ratio on average core loans and advances to be approximately 0.52-0.55 pct Source text for Eikon: Further company coverage: (Bengaluru Newsroom)

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