KEY STRATEGIC OBJECTIVES FOR 2011 AND BEYOND
Accelerate transformation to improve the overall transformation of the group, enhance the score on the Department of Trade and Industry (dti) Codes and maintain the status of being the most transformed bank in South Africa.
Reduce staff turnover rates particularly pertaining to African, coloured, Indian and female staff. Staff turnover across all demographics to be less than the industry norm.
Embed talent management, thereby enhancing the employment value proposition and raising the ‘stay factor’ in engagement.
Ensure that employees learn and grow to enable superior service delivery to clients and facilitate career advancement.
Reduce group entropy (energy wasted on unproductive activities) further and increase additional matches between current and ideal corporate culture values.
Further embed, expand and develop an integrated culture.
Review group values and associated behaviour to build a high performing culture and support enablement of the group's strategy.
Align total-reward strategy to support talent and transformation focus areas.
Enable human resources capability and excellence, and deliver on the HR 2010 Programme.
Transform retail banking to be more client-focused, become the leader in business banking and the public sector bank of choice, and maintain position as a top-two wholesale bank.
Grow the group’s primary-client base and transactional income streams.
Continue to deliver distinctive client service to wholesale banking clients and rebuild the service experience within retail banking in accordance with client needs.
Deliver on insurance, asset management and wealth management strategies.
Deliver on strategies and synergies from the Imperial Bank acquisition.
Selectively expand into Africa and leverage the Ecobank Nedbank Alliance.
Continue building the Nedbank brand to be relevant for all banking clients in South Africa and Africa.
SHAREHOLDER VALUE CREATION
Manage the group prudently but profitably through continued economic uncertainty.
Optimise the group portfolio through active portfolio management towards strategically important higher-economic profit businesses:
- - Continue to focus on liability growth and innovation for the group's strong depositor franchise.
- - Focus on quality, appropriately priced loans, accounting for risk and increased cost of funding.
- - Fix the economics of negative-economic-profit businesses.
- - Grow non-interest revenue income streams, with a focus on transactional income.
- - Cross-sell into the existing client base.
- - Enhance productivity, efficiency and execution, and continue smart cost management.
- - Invest for the future on a sustainable basis.
Continue with proactive engagement.
Respond timeously to regulators’ concerns and queries.
Remain totally transparent to regulators.
Maintain good relationships with all regulators.
Continue to lead as a corporate citizen in an effort to ensure that Nedbank Group remains South Africa’s leading green and caring bank, thereby building a sustainable business that is relevant in South Africa.
Continue with a step change focus to integrate sustainability initiatives and considerations more fully and holistically in all business activities, thereby maximising the synergies between economic, environmental, social and cultural sustainability.
Continue with carbon awareness, measurement and reduction and maintain the group’s carbon-neutral status as part of its climate change leadership journey.
Address climate adaptation issues, taking water scarcity and quality considerations into account.
Deliver on transformation targets (level 2 dti Codes) and become a truly SA bank.