INVESTEC, the South African financial group which includes a Liverpool office in Old Hall Street’s The Plaza, said total operating income for the nine months to December 31 was 1% ahead of the previous year in a trading update today.
Impairment losses on loans and advances decreased by 20%, although operating costs rose by 4%, but are flat excluding the impact of acquisitions.
The group said it has about £8.9bn of cash and near cash available to support its activities.
Third party assets under management increased by 7% to £103.3bn, and the group recorded net inflows of £2.8bn.
However, customer deposit accounts decreased by 4% to £24.4bn.