Investec lifts H1 profit, shares rise

Johannesburg - South African bank and asset manager Investec [JSE:INL] reported a 13.3% increase in first-half profit on Thursday, boosted by a strong showing at its lending unit.

Investec, which is also listed in London, said adjusted EPS totalled 25.5 pence compared with 22.5 pence a year earlier.

The company shares were up 3.5% to R113.26 earlier, outpacing a 0.9% gain in the JSE Top-40 index.

Net interest income grew more than 10% to £284.1m thanks to demand from corporate clients in the UK and at home.

Lending to companies is increasingly becoming the mainstay for banks in the country but an electricity crisis at home could temper business and investment and curb corporate credit growth.