In a tough economic environment Nedbank Group’s strong franchise and growth orientation together with the momentum built in the first half of the year resulted in the group delivering diluted headline earnings per share growth of 19,0%. This performance was achieved through strong revenue growth, an improved credit loss ratio and responsible expense management while strengthening the balance sheet and investing for growth.

We are committed to sustainable stakeholder delivery and contributing to SA’s development through our support of the National Development Plan objectives. In 2012 we created over 450 new permanent jobs in South Africa and our great-value banking offerings led to 655 000 more clients banking with Nedbank, taking the total number of clients who choose to bank with us above six million. We continue to lead in transformation as the JSE’s most empowered large company under the Department of Trade and Industry codes, and to make a difference as South Africa’s green bank.

Nedbank Group has strongly growing and diverse annuity income streams, a long-term record of disciplined expense management, a sound funding base, improving asset quality trends and higher coverage ratios, strong capital levels and stable management teams. These attributes, together with a multiyear focus on the importance of culture and values, position us well to continue to deliver to all our stakeholders in 2013 and to adapt to a volatile and challenging economic environment.

Mike Brown
Chief Executive

2012 Highlights


Dr Reuel J Khoza
Non-executive Chairman

Mike Brown
Chief Executive

Graham Dempster
Chief Operating Officer

Raisibe Morathi
Chief Financial Officer