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
What products and brands are shoppers buying when they visit spaza shops?Read More
The cafes received essential service status continuing to provide Red Cross and Somerset hospital staff's coffee during lockdown.Read More
"You can't come inside to place and collect an order," says Yousri Hartley. "Your car, I cannot say that’s not your address!"Read More
Google services such as Gmail and YouTube don't work on Huawei devices, but there are workarounds, says Jan Vermeulen.Read More
South Africans may now travel abroad if they meet certain criteria, says Advocate Bongani Bongo (Home Affairs Committee).Read More
Labour lawyer Marleen Potgieter says employers are managing a crisis and must ensure sure the health and safety of employees.Read More
Nando's has said it does not make commercial sense to open all outlets for delivery only.Read More
The head of the National Blood Service is now part of a blood plasma donation programme.Read More
More health issues are devouring Tiger Brands.Read More
Many businesses are looking forward to the first of June to re-open, and hopefully stay open.Read More