JOHANNESBURG – Investec is a South African asset and lender. It reported on Thursday that the bank’s profit for the year was almost 91%. This resulted from strong loan growth, client acquisitions, increased funds under management and a rise in capital.

Higher-income clients are served by the company. The adjusted earnings per share, or profits made during ordinary operations, were 55.1 pennies for the March 31st year. This is slightly higher than their estimate.

The final dividend was announced at 14 pence per shares, bringing the total dividend for the year to 25 pence.

Investec shares however were lower than 3% at 1135 GMT.

With a UK listing, the niche lender is also among the most successful banks in South Africa. It has achieved a high share price over the past two year.

It is largely driven by the focus on quality client acquisition and service, cost cutting and avoiding non-core business.

Investec specializes in specialist banking. It serves high-value clients and manages wealth in South Africa, the UK, and South Africa. This means that the main source of income for Investec is from two sources: loans and funds under administration.

The company posted 9.2% increases in its funds under management to 63.8Billion pounds, and 13.2% in core loans at 29.9Billion pounds for the year ending March 31.

The revenue of the company grew 21.3% from 2 billion to 3 billion.

Fani Titi’s Chief Executive stated to Reuters, in an interview, that although the Russia-Ukraine Crisis will only be temporary it will have many-reaching effects on world consumption of all things fuelled and food. This will make inflation a phenomena for at most a few more years.

His words were: “The outlook and environment are cloudy. But we have faith in our quality clients…and the fundamental strength our business.”

($1 = 0.8066 pounds)