The South African and UK-listed lender aims to bolster corporate and affluent client services in Europe post-Brexit.
Investec has applied for a full banking permit in Ireland to expand its European operations. The move follows Brexit restrictions limiting UK banks’ access to the EU market, prompting the lender to seek broader regulatory approval in Dublin.
Investec, which already operates in Ireland through its 2012 acquisition of NCB Stockbrokers, currently offers treasury risk products and investment services. A banking license would enable it to provide comprehensive services to corporate and high-net-worth clients across Europe.
Group CEO Fani Titi expects approval by year-end, citing ongoing discussions with regulators. The permit would allow Investec to compete more aggressively amid rising rivalry from traditional banks and fintech firms targeting cross-border business.