Streaming issues? Report here
702 logo Gradients 702 logo Gradients
Best of 702
00:00 - 04:00
volume_up
volume_mute

Up Next: Early Breakfast with Africa Melane
See full line-up
Best of 702
00:00 - 04:00
Home
arrow_forward
Business

Investec annual profit takes a massive hit

21 May 2020 7:52 PM
Tags:
Investec
Fani Titi
Lockdown
COVID-19

Investec's annual profit has taken a massive blow, as the coronavirus hit trading income.

Investec's annual profit has taken a massive hit as the coronavirus hit the company's trading income.

Bruce Whitfield asked Investec's CEO if the company's recent restructuring was deeper than a reaction to Covid-19.

Over the last 18 months or so we embarked on a process to simplify and focus the business in order for it to grow - and the first element of that process was the demerging of the asset management business.

Fani Titi, Joint CEO - Investec 

The South African banking business has a cost income ratio of about 52 per cent which we believe is very competitive...

Fani Titi, Joint CEO - Investec 

Titi also elaborated on the company's operations during Covid-19, and agrees that the crisis has sped up technology that enables people to work from home.

At the moment about 95 per cent of our people work remotely so it's been an amazing effort on the part of our technology people to facilitate a transition into this type of working.

Fani Titi, Joint CEO - Investec 

I think in the long-term the trend of working away from a fixed office was always on the horizon. What the crisis had done was accelerate the trend.

Fani Titi, - Investec
Investec Bank logo. Picture: www.Investec.co.za

Listen to the full interview below.

Get the 10 most-read articles of the week from Bruce Whitfield’s The Money Show, emailed to you every Friday morning.


21 May 2020 7:52 PM
Tags:
Investec
Fani Titi
Lockdown
COVID-19

More from Business

kevin-lings-croppedjpg

I love economics. It’s part of me - Kevin Lings (Chief Economist, Stanlib)

28 September 2020 8:12 PM

Kevin Lings (Chief Economist, Stanlib) opens up about his attitude to money (hopes and fears, successes and failures, etc.).

Share this:
Read More arrow_forward

Funky hipster retired older mature couple 123rf 123rfbusiness retirement

How to secure your retirement - Bruce Cameron (retired editor, Personal Finance)

28 September 2020 7:24 PM

Bruce Cameron discusses with Bruce Whitfield his new book on securing your retirement, despite corruption and the smashed economy.

Share this:
Read More arrow_forward

Small grey house wooden 123rf 123rfbusiness 123rflifestyle

All houses in South Africa can and should be built with wood – study

28 September 2020 6:49 PM

SA needs homes. Plenty of them. They can and should be constructed with wood, says Phillip Crafford (Stellenbosch University).

Share this:
Read More arrow_forward

Nomvula Mokonyane

300 days of Zondo: 'We’ve learned it’s cheap to bribe a politician'

28 September 2020 6:25 PM

For 300 days, punch-drunk South Africans have been learning just how bad corruption is in the country, says Ferial Haffajee.

Share this:
Read More arrow_forward

Sorry we closed small business 123rfbusiness 123rf

'Foreigners create work for South Africans,' says immigration lawyer

28 September 2020 1:28 PM

Lester Kiewit finds out from Stefanie de Saude-Darbandi what the proposed new law means for foreign business Gauteng townships.

Share this:
Read More arrow_forward

Woman saving money piggy bank mask 123rf 123rfbusiness 123rflifestyle

Money lessons Covid-19 taught – heed them for a brighter, wealthier future

25 September 2020 10:44 AM

Your financial future – even if you have to start over – could be brighter than it would’ve been without the pandemic.

Share this:
Read More arrow_forward

cashless-paymentjpg

'SA cash economy about 60% of GDP, moving that to digital would be huge saving'

24 September 2020 8:39 PM

The Covid-19 pandemic's moving us towards a cashless society. Arabile Gumede interviews Ukheshe co-founder, Clayton Hayward.

Share this:
Read More arrow_forward

Small business owners entrepreneurs entrepreneurship 123rf 123rfbusiness

Retail Capital injects R500m into economy through Covid-relief for SMEs

24 September 2020 7:41 PM

'Smaller businesses have largely been ignored'. Arabile Gumede interviews Retail Capital CEO Karl Westvig.

Share this:
Read More arrow_forward

national_lottery.jpg

Diverted Lotto millions: 'Can we please get to holding people to account!'

24 September 2020 6:58 PM

Outa's Stefanie Fick urges the speedy investigation of allegations against the suspended COO of the National Lotteries Commission.

Share this:
Read More arrow_forward

Skyscrapers CBD Johannesburg 123rf 123rfbusiness

Long-term investment case for property in Africa remains intact

24 September 2020 1:38 PM

There’ll be many opportunities for frontier investors in the coming years, says Absa's Somaya Joshua.

Share this:
Read More arrow_forward