By Simon Kennedy
lONDON (MarketWatch) -- Banking group Investec (UK:INVP 407.25, 0.00, 0.00%) said Friday that attributable earnings in the quarter ended June 30 fell 26% as loan defaults continued to rise. The group said the credit loss ratio on core loans increased to 0.8% from 0.3%. Over the course of the quarter, core loans and advances grew by 1% to 16.3 billion pounds ($26.9 billion) and third-party assets under management increased 9.7% to 53.6 billion pounds. The firm said it's kept tight control of expenses, which have fallen 7%.
