JOHANNESBURG: South Africa's Investec may need to raise as much as 75 million pounds ($121.2 million) in new capital to meet up-coming UK banking regulations, the lender's managing director told Reuters.
"If you take it at its very worst, maybe a maximum of 60 to 75 million pounds," Bernard Kantor said in a telephone interview, when asked how much the bank might need to meet stricter capital requirements in Britian, where it also has a substantial presence.
Investec, which is also listed in London, fell short of market expectations with its full-year earnings on Thursday, hurt in part by higher write-downs related to the European debt crisis.
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