{"id":14600,"date":"2012-09-13T16:17:22","date_gmt":"2012-09-13T14:17:22","guid":{"rendered":"http:\/\/www.myza.co.za\/09\/update-1-investec-sees-flat-h1-profit-australia-bounces-back\/"},"modified":"2012-09-13T16:17:22","modified_gmt":"2012-09-13T14:17:22","slug":"update-1-investec-sees-flat-h1-profit-australia-bounces-back","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/update-1-investec-sees-flat-h1-profit-australia-bounces-back\/","title":{"rendered":"UPDATE 1-Investec sees flat H1 profit, Australia bounces back"},"content":{"rendered":"<p>\t\t<span><\/span><\/p>\n<p>* Investment and trading income down<span><\/span><\/p>\n<p><span><\/span><\/p>\n<p>* Lending also declined<\/p>\n<p><span><\/span><\/p>\n<p>* Australian home loans improve<\/p>\n<p><span><\/span><\/p>\n<p>JOHANNESBURG, Sept 13 (Reuters) &#8211; South African investment<br \/>\nbank and asset manager Investec said on Thursday it<br \/>\nexpects flat first-half earnings, following declining investment<br \/>\nand trading income and despite a recovery in its home loans<br \/>\nbusiness in Australia.<\/p>\n<p><span><\/span><\/p>\n<p>Investec has been the worst hit of major South African banks<br \/>\nby the global economic meltdown, given its exposure to Europe<br \/>\nand Australia.<\/p>\n<p><span><\/span><\/p>\n<p>Bigger rivals &#8212; Standard Bank, FirstRand<br \/>\nand Nedbank &#8212; have reported profit increases but No. 3<br \/>\nbank Absa Group saw profit shrink in the first half as<br \/>\na result of bad mortgages.<\/p>\n<p><span><\/span><\/p>\n<p>Dual-listed Investec said in a trading update it<br \/>\nexpects pre-tax operating profit for the six months to<br \/>\nend-September to come in line with last year.<\/p>\n<p><span><\/span><\/p>\n<p>Lower investment and trading income are expected to cut<br \/>\nearnings in the United Kingdom, but Investec&#8217;s South African<br \/>\nbusiness is seen showing an improvement in local currency terms.<\/p>\n<p><span><\/span><\/p>\n<p>Investec said lending fell 3 percent to 17.7 billion pounds,<br \/>\nwhich caused a marginal decline in net interest income.<br \/>\n\u00a0 <span class=\"label\"><strong>Continued&#8230;<\/strong><\/span><\/p>\n<p><span><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>* Investment and trading income down * Lending also declined * Australian home loans improve JOHANNESBURG, Sept 13 (Reuters) &#8211; South African investment bank and asset manager Investec said on Thursday it expects flat first-half earnings, following declining investment and trading income and despite a recovery in its home loans business in Australia. Investec has [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","ngg_post_thumbnail":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[830,2370,183],"class_list":{"0":"post-14600","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-south-africa","7":"tag-news","8":"tag-reuters","9":"tag-south-africa-2","10":"entry"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/14600","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/comments?post=14600"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/14600\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=14600"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=14600"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=14600"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}