Avior Financials | Standard Bank results | Nedbank meeting notes | Investec | Quilter | Transaction Capital
Standard Bank reported a positive set of H1 ‘19 results as diluted HEPS increased 5.7% y/y. Despite the pressures on SBK's SA operations, we believe SBK's operations outside SA will continue to support upper single digit to low teens Group earnings growth over the next three years.We met with Nedbank management (RBB, CIB, Wealth and Rest of Africa teams, and Group management) yesterday and provide our meeting notes.
Investec announced yesterday that the Group has received all necessary regulatory approvals for the Investec Asset Management (IAM) demerger and listing to proceed. However, the IAM listing has changed to a dual-listed company (DLC) structure
Quilter is experiencing a slowing growth environment in the UK with net client cash flows (H1'19: GBP0.3bn) at their lowest point in our nine-year data set. The impact of the platform upgrade and c.9 lost investment advisors in Quilter Cheviot will suppress flows for the next six to twelve months. Growth in profits for FY'19 and ‘20 will depend on cost control which QLT have executed effectively on in H1'19 constraining cost growth to 1.8% y/y.
Transaction Capital (TCP) released a circular giving further detail into the move into European debt collections.
Nedbank is a bank holding company, engaged in providing a range of banking and financial services. Co.'s business operations include: Nedbank Capital, which provides investment banking solutions; Nedbank Corporate, which provides lending, deposit-taking, transactional banking and commercial property finance; Nedbank Business Banking, which provides Commercial banking solutions for small-to medium-sized businesses; Nedbank Retail, which provides financial solutions for individuals, startups and small businesses; and Nedbank Wealth, which offers wealth management, asset management and insurance solutions. As of Dec 31 2014, Co. had total assets of R809,313,000,000.
Quilter PLC Formerly known as Old Mutual Wealth Management Ltd. Quilter PLC, formerly Old Mutual Wealth Management Ltd, is engaged in wealth management business. The Company offers financial advice; investment platforms; multi-asset investment solutions and discretionary fund management offerings. Its segment includes Wealth Platforms and Advice and Wealth Management. Wealth Platforms includes its Old Mutual Wealth United Kingdom Platform; Old Mutual International, including AAM Advisory in Singapore; and the Old Mutual Wealth Heritage life assurance business. Advice and Wealth Management includes the financial planning network, Intrinsic; Old Mutual Wealth Private Client Advisers; discretionary fund management business, Quilter Cheviot; and the Multi-asset investment solutions business.
Standard Bank Group is a financial services company. Co.'s business units include: Personal & Business Banking, which comprised of Mortgage lending, Instalment sale and finance leases, Card products, Transactional and lending products, and Bancassurance and wealth; Corporate & Investment Banking, which comprised of Global markets, Transactional Products and services, Investment banking, and Real estate and principal investment management; Liberty, which include life insurance and investment management activities; and Central and other, which include the Tutuwa initiative, group hedging activities, group capital instruments and group surplus capital and strategic acquisition costs.
Transaction Capital Limited is a South Africa-based investment holding company. The Company operates as a non-deposit taking financial services company. The Company's segments include SA Taxi, Transaction Capital Risk Services, and Group executive office. The Company operates in two principal areas: SA Taxi and Transaction Capital Risk Services. SA Taxi is a vertically integrated taxi platform utilizing specialist capabilities and data to deploy developmental credit and allied business services to manage small-and medium-sized enterprises (SMEs).It has designed its own insurance products that it sells through its own insurance cell captive entity. Transaction Capital risk services division is a provider of customer management and capital solutions through a platform, enabling its clients to mitigate risk through their customer engagement lifecycle. It provides a range of services to SMEs, which include property and trade financing, as well as invoice discounting.
Avior is a globally recognised capital markets research and trading firm, with the broadest research coverage within the region, with 100+ SA and 20+ SSA companies under coverage. Avior services clients from offices in London, Cape Town and Johannesburg.
Our research quality is consistently recognised in local and global surveys, with 18 analysts currently rated in their respective sectors (FM 2017). Value add through in-depth, innovative, high quality and consistent research with comprehensive underlying fundamental modelling supported by regular analyst and roadshow interactions.
Avior has proven that by working closely with our clients we can mutually develop dominant positions in certain sectors, going from strength to strength. Avior has a dedicated ESG team, having been ranked #1 in Corporate Governance research since 2008.
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