About Nedbank Group

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VALUE-ADDED STATEMENT

at 31 December 2008

   
  2008 2007
  Rm   %   Rm   %  
Value added is the wealth created from        
providing quality services to clients        
Net interest income 16 170   94   14 146   81  
Impairment losses on loans and advances (4 822)  (28)  (2 164)  (12) 
Income from lending activities 11 348   66   11 982   69  
Non-margin-related income* 11 639   67   10 796   62  
Other expenditure (5 671)  (33)  (5 434)  (31) 
  17 316   100   17 344   100  
Value allocated        
– Employees 7 040   41   7 079   41  
– Government (taxes)** 2 242   13   2 648   15  
– Shareholders*** 3 330   19   3 018   17  
– Retentions for growth 4 704   27   4 599   27  
   Depreciation and amortisation 1 030   6   976   6  
   Retained income 3 674   21   3 623   21  
  17 316   100   17 344   100  
     
*   Includes non-interest revenue, foreign currency translation gains/losses, non-trading and capital items, and share of profits of associates and joint ventures.
**   Includes direct and indirect taxation.
***   Value is allocated to shareholders in respect of cash dividends (does not include the underlying value of capitalisation shares awarded) and income attributable to minority shareholders.