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Nedbank Group Ltd (NEDJ.J)

NEDJ.J on Johannesburg Stock Exchange

27,224.00ZAc
21 Sep 2018
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Latest Key Developments (Source: Significant Developments)

Nedbank Group Forecasts HY HEPS Of 1350,5 Cents To 1405,4 Cents
Thursday, 26 Jul 2018 01:05am EDT 

July 26 (Reuters) - Nedbank Group Ltd ::SEES HY HEPS OF BETWEEN 1 350,5 CENTS AND 1 405,4 CENTS.SEES HY BASIC EPS OF BETWEEN 1 344,4 CENTS AND 1 399,0 CENTS.  Full Article

Portuguese Government Announces Shortlist Of Buyers For Mercantile Bank Holdings Ltd
Monday, 18 Jun 2018 03:58am EDT 

June 18 (Reuters) - MERCANTILE BANK: :PORTUGUESE GOVERNMENT APPROVED SHORTLIST OF FOUR POTENTIAL BUYERS TO PARTICIPATE IN SECOND PHASE OF SALE PROCESS OF MERCANTILE BANK HOLDINGS LTD.APPROVAL ALLOWS SALE PROCESS OF MERCANTILE BY CAIXA GERAL DE DEPÓSITOS, S.A. TO PROGRESS TO NEXT PHASE.CGD HAS RECEIVED 18 NON-BINDING OFFERS FOR MERCANTILE.POTENTIAL BUYERS INCLUDE CONSORTIUM COMPRISING ARISE B.V. AND GRINDROD BANK LTD, CAPITEC BANK, NEDBANK GROUP.POTENTIAL BUYERS ALSO INCLUDE CONSORTIUM COMPRISING PUBLIC INVESTMENT CORPORATION SOC AND BAYPORT FINANCIAL SERVICES (PTY) LIMITED.  Full Article

Nedbank Says For Three Months To 31 March 2018 Net Interest Income Grew At Low- To Mid-Single-Digit Levels
Thursday, 10 May 2018 02:00am EDT 

May 10 (Reuters) - Nedbank Group Ltd ::UPDATE ON NEDBANK GROUP'S PERFORMANCE FOR THREE MONTHS TO 31 MARCH 2018 AND PILLAR 3 BASEL III CAPITAL ADEQUACY, LEVERAGE AND LIQUIDITY RATIOS AT 31 MARCH 2018.NET INTEREST INCOME GREW AT LOW- TO MID-SINGLE-DIGIT LEVELS FOR THREE MONTHS TO 31 MARCH 2018.NET INTEREST MARGIN (NIM) FOR PERIOD WIDENED AHEAD OF FULL-YEAR 2017 LEVEL OF 3,62%.EARNINGS GUIDANCE FOR 2018 REMAINS SAME AS ANNOUNCED ON 2 MARCH 2018,.QUARTER CREDIT LOSS RATIO, INCREASED IN LINE WITH EXPECTATIONS AND WAS SLIGHTLY BELOW LOWER END OF OUR 60 TO 100 BPS THROUGH--CYCLE TARGET RANGE.QUARTER NON-INTEREST REVENUE GREW JUST ABOVE MID-SINGLE-DIGIT LEVELS.QTRLY COMMON-EQUITY TIER 1 RATIOS OF 12,5% (DECEMBER 2017: 12,6%).GUIDANCE FOR GROWTH IN DILUTED HEPS FOR 2018 IS TO BE IN LINE WITH MEDIUM-TO-LONG-TERM TARGET OF GREATER THAN OR EQUAL TO GDP PLUS CPI PLUS 5%.  Full Article

Nedbank Group Posts FY ‍Headline Earnings Of 11.8 Bln Rand, Up 2.8 Pct​
Friday, 2 Mar 2018 12:05am EST 

March 2 (Reuters) - Nedbank Group Ltd ::FY ‍HEADLINE EARNINGS OF R11,8BN, UP 2,8%​.‍GUIDANCE FOR GROWTH IN DILUTED HEADLINE EARNINGS PER SHARE FOR 2018 IS TO BE IN LINE WITH OUR MEDIUM-TO-LONG-TERM TARGET​.FY ‍DHEPS INCREASED 2.4% TO 2,406 CENTS AND HEPS ROSE 2.2% TO 2,452 CENTS​.‍FINAL DIVIDEND OF 675 CENTS WAS DECLARED, AN INCREASE OF 7.1%​.‍CET1 AND TIER 1 CAPITAL RATIOS OF 12.6% AND 13.4% AT DEC. 31​.‍FY NET INTEREST INCOME INCREASED 4.5% TO R27,624M​.‍FY NET INTEREST MARGIN EXPANSION OF 8 BPS TO 3.62%​.FY ‍IMPAIRMENTS CHARGE ON LOANS AND ADVANCES DECREASED BY 27.5% TO R3,304M​.FY NON-INTEREST REVENUE GROWTH OF 2.4% TO R24,063M​.‍FY DEPOSITS GREW 1.3% TO R771.6 BILLION​.‍FY LOANS AND ADVANCES INCREASED BY 0.5% TO R710.3 BILLION​.‍DURING YEAR REDUCED HEADCOUNT BY 859​.‍FULL YEAR 2018 NIM TO BE SLIGHTLY ABOVE 2017 LEVEL OF 3.62%​.‍FOR 2018, NIR TO GROW ABOVE MID-SINGLE DIGITS​.‍FULL YEAR 2018 CLR TO INCREASE INTO BOTTOM HALF OF OUR TARGET RANGE OF 60 TO 100 BPS​.FOR 2018, ASSOCIATE INCOME TO BE POSITIVE (ETI ASSOCIATE INCOME REPORTED QUARTERLY IN ARREAR) AND EXPENSES TO INCREASE BY MID-SINGLE DIGITS​.‍FULL YEAR 2018 AVERAGE INTEREST-EARNING BANKING ASSETS TO GROW IN LINE WITH NOMINAL GDP​.‍SET 2020 TARGETS OF ROE (EXCLUDING GOODWILL) OF GREATER THAN OR EQUAL TO 18% AND COST TO INCOME OF LOWER THAN OR EQUAL TO 53%​.  Full Article

Nedbank Group and Deutsche Bank to cooperate on equity and debt capital markets in South Africa and sub-Saharan Africa
Friday, 6 Oct 2017 02:00am EDT 

Oct 6 (Reuters) - Nedbank Group Ltd ::‍NEDBANK GROUP AND DEUTSCHE BANK TO COOPERATE ON EQUITY AND DEBT CAPITAL MARKETS IN SOUTH AFRICA & SUB-SAHARAN AFRICA​.‍TWO INSTITUTIONS WILL COOPERATE ON TRANSACTION-BY-TRANSACTION BASIS, WITH CLIENTS CONTINUING TO CONTRACT DIRECTLY WITH EACH ENTITY INDIVIDUALLY.  Full Article

Nedbank Group reports HY headline earnings of 5.3 bln rand
Wednesday, 2 Aug 2017 01:05am EDT 

Aug 2 (Reuters) - NEDBANK GROUP LTD ::NEDBANK GROUP-2017 GUIDANCE FOR GROWTH IN DILUTED HEPS IS FOR THIS MEASURE TO BE POSITIVE, BUT LESS THAN OR EQUAL TO GROWTH IN NOMINAL GDP.HY HEADLINE EARNINGS OF R5.3BN, BEING 2.9% DOWN ON OUR 2016 FIRST-HALF.EXCLUDING ETI, HY DHEPS INCREASED BY 5,9% TO 1 316 CENTS (JUNE 2016: 1 243 CENTS).HY CET1 CAPITAL RATIO OF 12,3% (JUNE 2016: 11,6%) AVERAGE LCR FOR Q2 OF 104,6% (JUNE 2016: 93,1%).HY NEDBANK'S NET ASSET VALUE PER SHARE INCREASED TO 16 200 CENTS (JUNE 2016: 15 826 CENTS).HY NII INCREASED BY 4,0% TO R13 548M (JUNE 2016: R13 028M), AHEAD OF AVERAGE INTEREST-EARNING BANKING ASSET GROWTH OF 2,4%.NEDBANK GROUP LTD - COLLABORATION WITH OM PLC TO UNLOCK R1,0BN OF SYNERGIES BY END OF 2017 FROM OM PLC BUSINESSES IN SA, REMAINS ON TRACK.NEDBANK GROUP LTD - "IN LIGHT OF WEAK ECONOMIC OUTLOOK IN SA", CO REVISED GUIDANCE ON FINANCIAL PERFORMANCE FOR FULL YEAR 2017.GIVEN SA'S WEAKER-THAN-EXPECTED GROWTH IN FIRST HALF, NEDBANK GROUP'S CURRENT FORECAST FOR GROWTH IN 2017 IS 0,6%, WITH RISK TO GROWTH ON DOWNSIDE.NEDBANK GROUP LTD - SEES 2017 AVERAGE INTEREST-EARNING BANKING ASSETS TO GROW BELOW NOMINAL GDP GROWTH.NEDBANK GROUP LTD - SEES 2017 NIM TO BE SLIGHTLY ABOVE 2016 REBASED LEVEL OF 3,54%.NEDBANK GROUP LTD - SEES 2017 CLR TO INCREASE FROM LEVEL OF 47 BPS IN FIRST HALF OF 2017 TOWARDS BOTTOM END OF OUR TARGET RANGE OF 60 TO 100 BPS.  Full Article

South Africa's Nedbank Q1 net interest margin widens
Thursday, 18 May 2017 02:01am EDT 

May 18 (Reuters) - Nedbank :Net interest income grew at mid-single digit levels.Nedbank net interest income grew at mid-single digit levels.Nedbank net interest margin (nim) for period widened ahead of full year 2016 level of 3,54% and q1 2016 level of 3,51%.Nedbank non-interest revenue grew at low-to-mid single digit levels.Nedbank nedj.j group's share of eti's attributable loss of usd 427m for fourth-quarter in 2016 was approximately r1,2bn (q1 2016: r676m loss).It will now be more challenging to achieve full 2017 year guidance provided at time of release of our 2016 annual results.  Full Article

Nedbank updates on investment in Ecobank Transnational Inc
Tuesday, 18 Apr 2017 08:21am EDT 

April 18 (Reuters) - Nedbank Group Ltd : :Voluntary announcement relating to the release of 2016 Ecobank Transnational Incorporated financial results .Will equity account its share of ETI's Q4 loss in Q1 2017. Q1 associate loss from ETI therefore amounted to about R1.2 bln (Q1 2016: R676 mln loss).Associate loss, share of ETI's OCI, Nedbank FCTR, will decrease carrying value of co's investment in ETI from R4.0 bln in Dec. 2016 to about R2.9 bln in March 2017.Currently not part of existing investors who have indicated appetite for ETI's $300 mln funding as bond's commercial terms do not meet required IRR.  Full Article

Nedbank Group FY diluted HEPS rises 4.8 pct
Tuesday, 28 Feb 2017 01:12am EST 

Nedbank Group: FY diluted HEPS increased 4.8% to 2,350 . Conditions in key markets in which eti operates are currently expected to remain difficult in 2017 . Full-Year dividend per share increased 8.4% to 1,200 cents . FY credit loss ratio decreased 68 bps (2015: 77 bps) . Performance guidance for FY 2017 is currently for growth in diluted headline earnings per share to be greater than consumer price index plus GDP growth . FY tier 1 capital adequacy ratio increased 13.0% (2015: 12.0%) , with ROE (excluding goodwill) of 16.5% . FY NII growth of 10.6 pct to 26.43 billion rand (2015: 23.89 billion rand) and net interest margin (NIM) expansion to 3.41% (2015: 3.30%) . FY impairments decreased by 4.9% to 4.55 billion rand(2015: 4.79 billion rand) and CLR improved to 0.68% (2015: 0.77%) . 2017 guidance for ROE (excluding goodwill) below target, while medium-to-long term targets at 5% above COE4 . Sees FY 2017 NIM to be slightly above 2016 rebased level of 3.54% . 2017 Tier 1 Capital Adequacy ratio within target, while medium to long term targets at > 12,0% (Basel III) . Sees FY 2017 CLR to increase, but to remain below mid-point of our target range of 60 - 100 bps . Final dividend of 630 cents per ordinary share has been declared . Sees FY2017 expenses to increase by mid-to-upper single digits.  Full Article

South Africa's Nedbank sees up to 28 pct rise in H1 profit

JOHANNESBURG, July 26 South African lender Nedbank said on Thursday it saw half-year profit rising as much as 28 percent, boosted by profitability of its west-African associate Ecobank.