Having taken in higher-than-average levels of assets under management, the group, comprising Investec Limited and the plc, said approximately £8.1bn of cash or near cash was available to support its activities.
Third party AUM fell by 2% to £108bn, although this rose by 6% on a currency neutral basis, the statement blaming the depreciation of the rand against sterling over the period for the lower valuation on business conducted outside the UK. Total operating profit was posted as 1% ahead of the prior year.
Customer deposits fell by 10% to £22.1bn, a 3% rise on currency neutral. Loans and advances as a percentage of those deposits were 72%, marginally higher than last year.
Operating costs were up 2% on the previous period, with recurring income as a percentage of total operating income sitting at 74%, supported by the higher level of funds under management. The nine-month figure to end December was 71%.
Investec is exploring the disposal of intermediary mortgage arm Kensington, and has appointed Fenchurch Advisory to review the offers, but it said there was "no certainty any sale will take place" and it would continue to service Kensington clients as usual.
Elsewhere, Investec is planning to transform its Australian banking business into a boutique focusing on corporate advisory, property funds, commodity and project finance and financial markets, among other interests.
