Media releases — 2008

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Media releases – 2008

VRYHEID BRANCH LAUNCH

10 April 2008

Vryheid set to experience Nedbank's red carpet service through the opening of a full service branch

The community of Vryheid in Northern KwaZulu-Natal will now enjoy the benefits of full service banking with the launch of the Nedbank Vryheid branch.�

Brian Duguid, Managing Director: Nedbank Network, says Nedbank's key strategic objective is to increase its presence in previously under-serviced areas and make banking services accessible to all South Africans. "We have made significant market share gains in areas such as Umlazi and Inanda in KwaZulu Natal; Mamelodi, Katlehong and Soweto in Gauteng; Ga-Mogotlane, Tickeyline, Monsterlus in Polokwane and Khayelitsha in the Western Cape," adds Duguid.

This follows Nedbank's commitment of R1 billion for the upgrading and expansion of its network over a three-year period commencing in 2006. As a result, innovative solutions such as Nedbank's 'branch in a box' were also developed to ensure that even remote areas are not left outside the country's mainstream economy.

The Vryheid branch will be serviced by 12 permanent staff members, one ATM and one Self-service terminal. This brings to 100 the number of branches, 292 ATMs and 63 Self-service terminals in KwaZulu Natal.��

"Nedbank's drive to give all South Africans access to banking services has resulted in many other benefits including employment and most importantly, contributing to the growth and sustainability of the local economies," says Duguid.��

Also, in the spirit of the recently launched Nedbank Cup, clients have an opportunity to contribute to the development of soccer through Nedbank's relationship with The Sports Trust, and can win prizes totaling R2 million.

"It is through such initiatives that Nedbank continues to demonstrate its commitment to being a bank for all South Africans," says Duguid.

ENDS

Notes to editors:

Some of the initiatives to help fast track the inclusion of all South Africans in the industry that forms the backbone of the economy includes:

Reduction of bank charges for transaction accounts by an average of 13%, from 1 July 2006�
The launch of the Nedbank Everyday Account that offers a bundled banking option for a fixed fee of R85. This fee is further reduced to R55 if clients have a Nedbank credit card and a home loan with the Group.
Nedbank's 'bank for all' strategy has placed the bank amongst the big players in this market, offering the best pricing on Mzansi and in excess of 700 000 Mzansi Accounts.

ISSUED BY: NEDBANK MEDIA RELATIONS

Contact:	Joanne Isaacs Tel: 011 295 8045 Cell: 078 800 4989 �� E-mail: joannei@nedbank.co.za


This page was updated on 27 May, 2008	Return to top