Nedbank Group history

2012

• Launched Nedbank approve-It ™, an interactive secure transaction authentication system

2011

• Nedbank deepened its strategic alliance with Ecobank by providing a facility in support of Ecobank's corporate development programmes, including its transformational banking acquisition in Nigeria, and in so doing secured rights to acquire up to 20% of Ecobank Transnational Inc.
• Nedbank named South African Bank of the Year for 2011 by Financial Times The Banker magazine
• Launched South Africa's first green index - the Nedbank Green Index
• Nedbank Capital secures a 37% share of the funding in the first phase of South Africa's Renewable energy Independent Producer programme
• Nedbank opened the first wind powered branch in Du Noon, Western Cape
• Nedbank Group maintained its level 2 rating of the BBBEE Codes of Good Practice of the dti Codes and was ranked by Financial Mail as SA's third most empowered corporate for the second year in a row.

2010

• Acquired the remaining 49,9% of Imperial Bank with full integration from October 2010
• Announced the group's four key strategic focus areas: Growing Non-interest-Revenue, Repositioning Nedbank, Retail implementing Portfolio Tilt towards businesses that generate higher levels of economic profit and growing Nedbank's business in rest of Africa
• Received approval of the Advanced Management Approach for Operational risk and Internal Measurement Approach for market risk by the South African Reserve Bank
• In partnership with Vodacom, Nedbank launched the M-PESA cellphone banking solution Nedbank and the World Wide Fund officially cross the R100 million threshold in funds donated towards environmental sustainability
• Nedbank becomes the first African Bank to achieve carbon neutrality
• Nedbank Group ranked by Financial Mail as SA's third most empowered corporate

2009

• Bought out Old Mutual stakes in the bancassurance and wealth joint ventures.
• Received regulatory and Competition Commission approval to acquire the Imperial Bank minorities to create South Africa’s second largest vehicle finance business.
• Announced Mike Brown as Nedbank Group’s new Chief Executive Officer from March 2010.
• Appointed new leadership team, further transforming management and enhancing client-centric structure.
• Nedbank committed itself to becoming the first SA corporate that is carbon-neutral.
• Significant progress in transformation" attained level-two broad-based black economic empowerment status in terms of dti Codes.

2008

• Nedbank rated number one in Ask Afrika Orange Index client service survey for the second successive year.
• Announced ground breaking alliance with Ecobank to strengthen and expand Nedbank’s African presence.
• Client-focused restructuring and new executive appointments to include Business Banking and Corporate Banking on the Group Executive Committee.
• Integrated Go Banking into Nedbank.
• Eyethu black economic empowerment (BEE) scheme paid out R63 million to clients to date.
• Introduced the Basel II Advanced Internal Ratings-based (AIRB) approach for credit risk management in Nedbank.

2007

• The group successfully delivered on the three year financial targets set at the start of the strategic recovery programme in 2004 of a 20% ROE and 55% efficiency ratio.
• Secured the Western Cape Government transaction and five municipalities as the first successes of the public sector bank-of-choice strategy.
• Integrated Old Mutual Bank into Nedbank Retail.
• Nedbank came first in service delivery in the banking sector in the Ask Afrika Orange Index Survey.
• Nedbank announced its first mass-market sponsorship, namely the Nedbank Cup in the Premier Soccer League.

2006

• Unveiled Nedbank’s BEE transaction in Namibia.

2005

• Changed the name of the holding company from Nedcor Limited to Nedbank Group Limited.
• Announced the group’s BEE deal: ‘Eyethu’ – the first truly broad-based deal with tens of thousands of stakeholders.

2004

• Watershed year for the group as both structural and strategic changes were implemented to restore the performance of the group and lay a foundation for sustainable growth into the future. Raised R5 billon in a rights issue.

2003

• The new Nedcor Group was formed, combining Nedcor, BoE, Nedcor Investment Bank (NIB) and Cape of Good Hope Bank.

2002

• Merger of Nedcor and BoE.
• NIB minority shares acquired and NIB delisted.

2001

• Merger of Permanent Bank and Old Mutual Bank.

2000

• Acquired FBC Fidelity Bank.

1999

• Nedbank Private Bank and Syfrets Private Bank merged to create the largest private bank in South Africa. BoE merged with Natal Building Society (NBS) and Boland.

1998

• BoE merged with NBS Boland.

1997

• Syfrets merged with UAL Merchant Bank and Nedbank Investment Bank division to form the listed Nedcor Investment Bank (NIB).

1995

• Perm split its operations into Permanent Bank and Peoples Bank.

1992

• Nedfin, Perm and Nedbank became known as Nedcor Bank, a wholly owned subsidiary of Nedcor.

1990

• Nedbank in association with the World Wide Fund for Nature (WWF) launched The Green Trust.

1989

• Nedbank Group changed its name to Nedcor.

1988

• Nedbank merged with Permanent Building Society to form NedPerm Bank.

1986

• Old Mutual became the major shareholder (53%) of Nedbank.
• Nedbank Investment Bank was created as a result of the acquisition of Finansbank Limited.

1983

• Nedbank became the first bank in South Africa to pay interest on current accounts

1973

• Nedbank Group formed from the merger of Syfrets South Africa and Union Acceptances and Nedbank.

1971

• The Netherlands Bank of South Africa (NBSA) changes its name to Nedbank.

1970

• The merchant bank Finansbank was established.

1969

• The South African shareholding in NBSA increased to 100%. Syfrets SA was listed on The Johannesburg Stock Exchange (JSE). Boland Bank was listed on the JSE.

1967

• Introduction, in Nedbank, of American Express Card Service through the issue of the American Express Gold Card.

1964

• NBSA became the first bank to introduce computerised banking services.

1951

• The Nederlandsche Bank voor Zuid-Afrika (NBZA) was established as a South African banking company and changed its name to the NBSA.

1946

• The Credit Corporation of South Africa was established. In 1976 this became Nedfin Bank.

1925

• NBZA merged with the Transvaalsche Bank en Handelsvereeniging, which was founded in 1892.

1903

• The Nederlandsche Bank en Credietvereeniging voor Zuid-Afrika (NBCV) changed its name to NBZA.

1900

• Boland Bank was established as a regional general bank.

1892

• Transvaalsche Bank en Handelsvereeniging was formed.

1892

• The Kimberley Permanent Mutual Building and Investment Society changed its name to South African Permanent Building and Investment Society, later known as Perm.

1888

• NBCV was founded.

1882

• The NBS was established.

1841

• Kimberley Permanent Mutual Building and Investment Society inaugurated.

1838

• The Board of Executors was established in Cape Town as a trust company.

1831

• Cape of Good Hope Bank established.