Nedbank is taking customers from other banks
Nedbank’s headline earnings improved by 14.5% to R13.5 billion in the year to 31 December 2018, the company reported on Tuesday.
Diluted headline earnings per share is up 13.7% to R27.36 while headline earnings per share increased 13.9% to R27.93.
The bank has 7% more customers than a year ago, growing its market share from 12.7% to 13.1%.
Nedbank employs 31 277 people.
During 2018, Nedbank concluded its “managed separation” from Old Mutual.
Listen to the interview in the audio below (and scroll down for quotes from it).
Growth remains the single largest challenge facing our country… It feels like we’re at the early stages of an institutional and political recovery…Mike Brown, CEO - Nedbank Group
We know the consumer is under pressure… growth has to come from the corporate sector…Mike Brown, CEO - Nedbank Group
We have 604 branches... We think our points of presence will remain roughly around 600… The size of each branch is reducing…Mike Brown, CEO - Nedbank Group
Our belief is that 2019 will be better than 2018… but only slightly…Mike Brown, CEO - Nedbank Group
We’ve done enormous damage to our economy and institutions in the last 10 years…Mike Brown, CEO - Nedbank Group
Get the 10 most-read articles of the week from Bruce Whitfield’s The Money Show, emailed to you every Friday morning:
This article first appeared on 702 : Nedbank is taking customers from other banks
Dodgy tenants who don’t pay – a perennial headache for landlords. Kieno Kammies interviews credit bureau TPN’s Michelle Dickens.Read More
Despite the huge expense, few medical aids cover members in full when they're hospitalised, leaving them with massive shortfalls.Read More
SAA has released the lists of flights affected by a "consolidation process" which has led to an amended flight schedule.Read More
A trove of 715 000 files prove that Isabel dos Santos syphoned a breathtaking fortune into offshore accounts, says the ICIJ.Read More
If Jeff Bezos and Bernard Arnault – the world’s two richest men – sat on their wealth piled up in $100 bills, they’d be in space!Read More
Flight Centre SA has issued an advisory informing clients that SAA has cancelled several domestic and international flights.Read More
Software superpower Microsoft announces various plans to cut its own carbon emissions by more than half over the next 10 years.Read More
Macfarlane Moleli tells The Money Show how he structures his life and sets goals.Read More
The pick of the day's crop as chosen by Caroline Cremen, Portfolio Manager, Adviceworx.Read More
“ Government must ensure that state-owned entities have boards with the right mix of skills to fulfil their mandates."Read More