trending Market Intelligence /marketintelligence/en/news-insights/trending/JhpPYp03_0RDFBe5v0sikA2 content
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

In This List

Nedbank ups interim dividend as H1 profit rises YOY

Key Credit Risk Factors When Assessing Banks In The Context Of COVID-19

Street Talk Episode 61 - Investors debate if U.S. banks have enough capital in post COVID world

You Down With PPP? Consider The Risks

Street Talk Episode 60 - You Down With PPP? Consider The Risks


Nedbank ups interim dividend as H1 profit rises YOY

South Africa's Nedbank Group Ltd. reported a year-over-year increase in its first-half profit attributable to ordinary shareholders, to 6.79 billion rand from 6.66 billion rand.

Headline EPS for the half was 14.35 rand, compared to the year-ago 13.87 rand.

Net interest income rose to 14.82 billion rand from 14.01 billion rand a year ago. Non-interest revenue increased on a yearly basis to 12.87 billion rand from 12.24 billion rand.

The group booked impairment charges on financial instruments of 2.54 billion rand, an increase from the year-ago 1.82 billion rand.

Total operating expenses came in at 15.57 billion rand, up from 14.76 billion rand a year earlier.

CEO Mike Brown said the group revised its growth guidance for its diluted headline EPS for 2019 to around nominal GDP growth in South Africa from previously greater than or equal to nominal GDP growth, due to slower-than-expected GDP growth in the country. Nedbank expects South Africa's GDP growth at just 0.5% in 2019, compared to its initial forecast of 1.3%.

The group also revised its expectation for non-interest revenue growth to around mid-single digits from mid-to-upper single digits. Expenses are expected to increase around mid-single digits, compared to the previous expectation of slightly above mid-single digits.

In addition, Nedbank declared an interim dividend of 7.20 rand per share, compared to the year-ago 6.95 rand per share, payable Sept. 16.

Return on equity stood at 16.8% at the end of June, compared to 17.2% a year ago. Excluding goodwill, ROE stood at 17.9% at June-end.

As of June-end, the group's Basel III common equity Tier 1 ratio stood at 11.3%, down from 11.7% at the end of 2018 and 12.4% a year ago.

As of Aug. 5, US$1 was equivalent to 14.90 South African rand.