Nedcor 2003


		Unaudited	Unaudited		Audited	Audited
	%	at 30 Jun	at 30 Jun		at 31 Dec	at 31 Dec
	change	2003	2002	%	2002	2001
Rand balance sheet	Actual	Rm	Rm	change	Rm	Rm
Assets
Cash and short-term funds	(38)	9 401	15 221	51	16 607	10 978
Other short-term securities	>100	19 542	9 210	32	14 987	11 372
Government and public sector securities	46	16 669	11 448	16	14 647	12 627
Advances and other debtors	60	246 162	153 413	33	201 539	151 055
Deferred taxation asset		702	282		690	84
Current taxation prepaid		399	200		421	190
Insurance assets		7 004			7 891
Investments
Investments in associate companies		1 424	1 746		1 504	1 901
Other investments		5 088	3 310		5 429	3 920
Property and equipment	38	2 783	2 012	39	2 854	2 046
Intangible assets:
Computer software and capitalised
development costs	19	1 578	1 331	31	1 638	1 247
Goodwill	>100	4 129	1 458	>100	4 457	1 272
Customers' indebtedness for acceptances		822	1 070		1 120	973
Total assets	57	315 703	200 701	39	273 784	197 665
Shareholders' equity and liabilities
Ordinary share capital		271	243		271	242
Ordinary share premium		4 625	1 904		4 536	1 326
Non-distributable reserves		484	634		216	703
Distributable reserves		9 447	12 292		12 023	12 559
Ordinary shareholders' equity	(12)	14 827	15 073	15	17 046	14 830
Minority shareholders' interest
Attributable to ordinary shareholders		1 157	1 520		1 089	881
Attributable to preference shareholders		2 115			1 987
Total shareholders' equity and minority interest	9	18 099	16 593	28	20 122	15 711
Deposit, current accounts and other creditors	58	280 904	178 224	34	235 449	175 591
Deferred taxation liabilities		1 249	1 577		1 451	1 451
Current taxation liabilities		178	137		183	110
Insurance funds		7 004			7 891
Long-term debt instruments		7 447	3 100		7 568	3 829
Liabilities under acceptances		822	1 070		1 120	973
Total shareholders' equity and liabilities	57	315 703	200 701	39	273 784	197 665
Guarantees on behalf of customers
excluded from assets		10 703	10 161		11 966	11 036

AC133 categorisation of balance sheet				Unaudited at 30 June 2003
				Assets		Liabilities
Rand balance sheet				Rm		Rm
Marked to market				88 551		52 136
Held for trading (I/S)				85 898		52 136
Available for sale (equity)				2 653
Amortised cost				227 152		245 468
Originated loan				215 259
Held to maturity				1 280
Non-trading liabilities						244 041
Other				10 613		1 427
Shareholders' funds						18 099
Total				315 703		315 703

AC133 categorisation of total assets				Unaudited
						at 30 Jun
Rand balance sheet						2003
Total assets excluding the effects of AC133						270 523
AC133 adjustments:						45 180
Deduct: Impairments to advances						(882)
Add: Bonds and securities gross up						5 563
Add: Advances gross up						2 871
Add: Derivatives gross up						37 036
Add: Fair value adjustments						592

Total assets including the effects of AC133						315 703

		Unaudited	Unaudited		Audited	Audited
		at 30 Jun	at 30 Jun		at 31 Dec	at 31 Dec
	%	2003	2002	%	2002	2001
Dollar balance sheet	change	Rm	Rm	change	Rm	Rm
Assets
Cash and short-term funds	(16)	1 248	1 487	>100	1 931	892
Other short-term securities	>100	2 595	900	89	1 743	924
Government and public sector securities	98	2 214	1 119	66	1 703	1 026
Advances and other debtors	>100	32 692	14 988	91	23 435	12 276
Deferred taxation asset		93	28		80	7
Current taxation prepaid		53	20		49	15
Insurance assets		930			918
Investments
Investments in associate companies		189	171		175	154
Other investments		676	323		631	319
Property and equipment	88	370	197	100	332	166
Intangible assets:
Computer software and capitalised
development costs	62	210	130	88	190	101
Goodwill	>100	548	142	>100	518	103
Customers' indebtedness for acceptances		109	105		130	79
Total assets	>100	41 725	19 609	98	31 835	16 064
Shareholders' equity and liabilities
Ordinary share capital		36	24		32	20
Ordinary share premium		614	186		527	108
Non-distributable reserves		64	62		25	57
Distributable reserves		1 255	1 281		1 398	1 021
Ordinary shareholders' equity	34	1 969	1 453	375	1 982	1 205
Minority shareholders' interest
Attributable to ordinary shareholders		154	149		127	72
Attributable to preference shareholders		281		77	231
Total shareholders' equity and minority interest	48	2 404	1 602	83	2 340	1 277
Deposit, current accounts and other creditors	>100	37 305	17 413	92	27 378	14 270
Deferred taxation liabilities		166	154		169	118
Current taxation liabilities		24	13		21	9
Insurance funds		930			918
Long-term debt instruments		989	303		880	311
Liabilities under acceptances		109	105		130	79
Total shareholders' equity and liabilities		41 927	19 609	98	31 835	16 064
Guarantees on behalf of customers excluded from assets		1 046	993		836	897
Exchange rate at spot		7,530	10,235		8,600	12,305

AC133 categorisation of balance sheet				Unaudited at 30 June 2003
				Assets		Liabilities
Dollar balance sheet				Rm		Rm
Marked to market				11 759		6 924
Held for trading (I/S)				11 407		6 924
Available for sale (equity)				352
Amortised cost				30 167		32 598
Originated loan				28 587
Held to maturity				170
Non-trading liabilities						32 408
Other				1 409		190
Total shareholders' equity and minority interest						2 404
Total				41 926		41 926

AC133 reconciliation of total assets				Unaudited
						at 30 Jun
						2003
Dollar balance sheet						Rm
Total assets excluding the effects of AC133						35 926
AC133 adjustments:						6 000
Deduct: Impairments to advances						(117)
Add: Bonds and securities gross up						738
Add: Advances gross up						382
Add: Derivatives gross up						4 918
Add: Fair value adjustments						79

Total assets including the effects of AC133						41 926

This page was updated on 31 July, 2003

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