OBJECTIVES FOR 2009 AND BEYOND

STAFF: 'A GREAT PLACE TO WORK', 'CREATE A COMMUNITY OF LEADERS' AND 'LIVING OUR VALUES.'

• Continue to reduce limiting values and increase current to ideal culture matches.
• Further staff satisfaction.
• Manage and retain our talent in a competitive market.
• Develop and grow our people.
• Build our leadership and management capabilities.
• Further improve human resources (HR) effectiveness and service delivery.
• Transform our workforce to start to align to the demographics of the South African economically active population.

CLIENTS: 'A GREAT PLACE TO BANK.'

• Grow the Retail franchise; become the leader in business banking and maintain our top-three positioning in wholesale banking.
• Grow primary client status and transactional income streams.
• Further improve service levels to worldclass standards.
• Manage for value (selective profitable growth) and increase economic profit in all businesses
• Achieve selective advances growth.
• Selectively expand into Africa and leverage the Ecobank alliance.
• Continue building the Nedbank brand as a bank for all South Africans.

COMMUNITIES: 'HIGHLY INVOLVED IN THE COMMUNITY AND ENVIRONMENT.'

• Continue to lead as a corporate citizen in our efforts to ensure we are a green and caring bank, thereby building a sustainable business that is relevant in South Africa.
• Deliver on our transformation targets and become a truly South African bank.

SHAREHOLDERS: 'A GREAT PLACE TO INVEST.'

• Manage the bank conservatively, but profitably through the economic downturn
• Continue focus on liability growth and our strong depositor franchise.
• Focus on high-quality, appropriately priced loans.
• Grow the group’s transactional banking franchise, both wholesale and retail.
• Cross-sell into our existing client base.
• Remain agile and alert to opportunities in the current environment.
• Exercise vigilance and focus on proactively managing capital and liquidity.
• Price appropriately for risk and the increased cost of funding.
• Enhance productivity and efficiency, execution and continue smart cost management.

REGULATORS: 'WORLDCLASS AT MANAGING RISK.'

• Exercise vigilance and focus on proactively managing capital and liquidity.
• Price appropriately for risk and the increased cost of funding.
• Continually monitor and refine credit and risk parameters as appropriate.
• Further embed and leverage worldclass risk practices.
• Maintain good relationships with all regulators.