"Although at the start of the year our customers felt somewhat less uncertain generally, as did capital market participants, it is still too soon to speak of an underlying trend reversal, " chairman Martin Blessing said in a statement.
"We cannot be certain whether this encouraging performance is merely a World Cup phenomenon or a longer-term trend towards recovery, " Chairman Ralph Bernard said in a statement.
The bank said in a statement that the decision to close the High Street advice operation "reflects the emerging trend that customers are increasingly purchasing and managing their investments online".
The legislation "would add to the generalised trend towards secrecy, fear and intimidation growing in South Africa today", the group said in a statement.