SEVEN-YEAR REVIEW

STATISTICS AND RATIOS

Share statistics   4-year
CAGR*
%		 2008 2007 2006 2005 2004 ***
2003		 ***
2002
Earnings per share                  
Headline cents 31,0 1 422 1 485 1 110 797 483 19 979
Diluted headline cents 30,6 1 401 1 429 1 076 791 482 19 979
Basic cents 39,0 1 581 1 511 1 135 966 423 (546) 346
Diluted basic cents 38,6 1 558 1 454 1 099 958 422 (545) 343
Dividends/Distributions                  
Declared per share cents 50,8 620 660 493 290 120 240 515
Paid/Capitalised per share cents   660 594 394 181 79 515 515
Dividend/Distribution cover times   2,29 2,25 2,25 2,75 4,00 0,10 1,90
Net asset value per share cents 16,3 8 522 7 513 6 363 5 597 4 654 4 240 6 300
Tangible net asset value per share cents 20,9 7 179 6 207 5 106 4 351 3 361 2 247 4 012
Number of shares                  
Gross shares in issue m   469 459 451 443 394 275 271
Treasury shares m   (59) (57) (56) (41) ** ** **
Net shares in issue m   410 402 395 402 394 275 271
Weighted average number m   405 399 400 397 361 293 253
Fully diluted weighted average m   412 414 412 400 362 293 254
                   
Share price and related statistics                  
Nedbank Group traded share price                  
Closing cents   9 550 13 600 13 350 10 000 7 780 6 203 11 110
High cents   13 975 15 810 13 950 10 280 7 999 11 850 15 400
Low cents   7 498 12 325 9 790 6 700 5 240 5 640 9 500
JSE Banks Index – closing     30 566 35 876 36 121 29 234 22 975 14 153 12 035
JSE Allshare Index – closing     21 509 28 958 24 915 18 097 12 657 10 387 9 277
Market capitalisation Rbn   44,8 62,5 60,2 44,3 30,7 17,1 30,1
Number of shares traded m   305,4 232,2 191,7 168,1 245,8 216,0 143,8
Number of shares traded to weighted                  
average number of shares %   75,4 58,2 48,0 42,3 68,1 73,7 56,8
Value of shares traded Rm   31 237 31 954 22 219 13 709 15 345 18 003 17 228
Value traded to market capitalisation %   69,8 51,1 36,9 31,0 50,0 105,5 57,2
Price/earnings ratio historical   7 9 12 13 16 326 11
Price to book times   1,1 1,8 2,1 1,8 1,7 1,5 1,8
Dividend yield %   6,5 4,9 3,7 2,9 1,5 3,9 4,6
Earnings yield %   14,9 10,9 8,3 8,0 6,2 0,3 8,8
Closing price/Tangible net asset value times   1,3 2,2 2,6 2,3 2,3 2,8 2,8
                   
Performance ratios                  
Net interest income to interest-earning                  
assets %   3,66 3,94 3,94 3,55 3,18 3,04 2,95
Non-interest revenue to total income %   39,9 42,5 46,3 49,8 53,1 49,0 48,5
Credit loss ratio %   1,17 0,62 0,52 0,49 0,55 1,02 0,63
Efficiency ratio                  
Including BEE transaction expense %   51,1 54,9 58,2 64,8 71,8 80,2 65,4
Excluding BEE transaction expense %   50,4 54,2 57,5 62,5 71,8 80,2 65,4
Expenses to average assets %   2,60 2,95 3,06 3,24 3,41 3,24 2,46
Effective taxation rate %   21,6 26,3 27,8 23,4 24,2 54,8 5,1
Return on total assets %   1,09 1,30 1,14 0,93 0,54 0,02 0,84
Return on risk-weighted assets %   1,62 1,76 1,60 1,40 0,82 0,03 1,19
Return on ordinary shareholders’ equity %   17,7 21,4 18,6 15,5 11,0 0,4 14,9

Assets and related ratios   4-year
CAGR*
%		 2008 2007 2006 2005 2004 2003 2002
Advances                  
Performing advances Rm 17,9 424 791 370 125 306 004 249 318 220 202 208 960 193 414
Defaulted/Impaired loans and advances Rm   17 301 9 909 7 743 4 304 7 490 8 444 8 001
Gross advances Rm 18,0 442 092 380 034 313 747 253 622 227 692 217 404 201 415
Impairment of advances Rm   (7 859) (6 078) (5 184) (5 214) (6 684) (7 308) (6 553)
Net advances Rm   434 233 373 956 308 563 248 408 221 008 210 096 194 862
Non-performing advances (NPAs) to gross advances %   3,9 2,6 2,5 1,7 3,3 3,9 4,0
Impairment of advances to gross advances %   1,8 1,6 1,7 2,1 2,9 3,4 3,3
Assets                  
Total assets on balance sheet Rm 14,7 567 023 488 856 424 912 352 258 327 840 313 113 324 767
Assets under management Rm   84 381 85 438 86 212 63 925 60 369 102 090 124 343
Total assets administered by the group Rm 13,8 651 404 574 294 511 124 416 183 388 209 415 203 449 110
                   
Capital and related ratios                  
Total equity attributable to equity holders of the parent Rm 17,5 34 913 30 193 25 116 22 490 18 337 11 647 17 046
Regulatory capital ****                  
Tier 1 Rm   33 458 26 611 22 932 21 151 17 274 10 593 14 517
Total qualifying capital Rm   43 610 37 421 32 683 29 099 25 663 21 589 22 985
Risk-weighted assets **** Rm   355 235 334 876 276 914 225 756 212 459 212 850 208 656
Group capital adequacy ratio ****                  
Core Tier 1 %   8,2 7,2          
Tier 1 %   9,6 8,2 8,3 9,4 8,1 5,0 7,0
Total %   12,4 11,4 11,8 12,9 12,1 10,1 11,0
                   
Employee statistics and ratios                  
Number of employees     27 570 26 522 24 034 22 188 21 103 24 25
Revenue per employee R’000   801 846 788 713 665 466 416
Expenses per employee R’000   498 509 495 497 518 427 289
Headline earnings per employee R’000   209 223 185 143 83 2 111
Refer here for definitions of terms used.
* Compound annual growth rate.
** Represents amounts less than R1 million.
*** Before conversion to International Financial Reporting Standards (IFRS).
****
 Ratios and balances for 2008 and 2007 were calculated according to Basel II principles, while ratios and balances for prior years were calculated according to Basel I principles.