Investment Case
Poised to deliver shareholder value in the long term
1. Clearly articulated plan to improve returns, underpinned by:
- Increased focus on capital discipline and cost rationalisation
- Reinforcement of the existing linkages between bank and wealth businesses and the UK and South African operations
- Strategies to participate in new profit pools which are underway and gaining traction
2. Well capitalised and highly liquid balance sheet, both ahead of regulatory and internal targets
3. Specialist Bank has leading client franchises in chosen niches / areas of specialisation
4. Leading wealth management franchises in both the UK and South Africa, underpinning steady annuity income
5. Our clients have historically shown resilience through difficult macro environments
6. Strategy to manage down direct equity investments de-risks future performance and improves earnings visibility