1999 Interim Results
Results | Balance sheet | Financial highlights | Income statement | Cash flow statement | Comment on results | Operating companies | Year 2000 | Nedcor Invesment Bank (NIB) listing | Prospects | Capitalisation share award and cash dividend
Operating companies
  30.06.99
Rm 		30.06.98
Rm 		%
increase
Nedcor Bank, including group operations 685 524 31
Nedcor Investment Bank 250 208 20
Cape of Good Hope Bank 34 27 26
969 759 28
Nedcor Bank, comprising 70% (1998 - 69%) of group income, had a particularly good half year, especially in the Treasury, International and Corporate Divisions. Nedcor Investment Bank's 20% increase in net income is based on the newly restructured business and major reconfiguration costs have been taken against the bottom line. Cape of Good Hope Bank grew 26% based on good asset growth, improved margins and the inclusion of associate income from recent investments in the property development sector.