Last 22,885
Change Today -25.00 / -0.11%
Volume 53.4K
NED On Other Exchanges
Symbol
Exchange
Johannesburg
OTC US
OTC US
Frankfurt
As of 4:33 AM 09/17/14 All times are local (Market data is delayed by at least 15 minutes).

nedbank group ltd (NED) Snapshot

Open
$23,000
Previous Close
$22,910
Day High
$23,000
Day Low
$22,815
52 Week High
07/30/14 - $24,550
52 Week Low
02/4/14 - $18,750
Market Cap
117.6B
Average Volume 10 Days
579.7K
EPS TTM
$20.24
Shares Outstanding
514.0M
EX-Date
09/8/14
P/E TM
11.3x
Dividend
$965.00
Dividend Yield
4.23%
Current Stock Chart for NEDBANK GROUP LTD (NED)

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nedbank group ltd (NED) Details

Nedbank Group Limited operates as the bank holding company for Nedbank Limited that provides wholesale and retail banking services principally in Southern Africa. The company offers retail banking products, such as transactional accounts, home loans, motor finance, cards, personal loans, and investments to individuals and small/micro businesses; and business banking products, including specialist finance, invoice discounting, transactional banking, card acquiring, and asset management, as well as personal-banking solutions to business owners and their employees. It also provides corporate banking solutions comprising structured property finance solutions to commercial, industrial, retail, and residential property developers, investors, and owner occupiers, as well as to listed property funds, partnerships, and affordable housing developments; corporate shared services; transactional banking services; and custodial and lending services to the investments industry. In addition, the company offers investment banking services that include advisory services comprising corporate finance, debt origination, and debt advisory services; debt financing solutions for infrastructure, energy, telecoms, mining, oil and gas, aircraft finance, export credit finance, acquisition and leveraged finance, global commodity finance, and securitization sectors; and private equity and alternative investments, as well as treasury and global market services. Further, it offers wealth management, fiduciary, stock broking and financial planning services; asset management services; and life and short-term insurance solutions, as well as insurance broking services. The company is headquartered in Johannesburg, South Africa. Nedbank Group Limited is a subsidiary of Old Mutual Life Assurance Company (South Africa) Limited.

30,061 Employees
Last Reported Date: 08/5/14

nedbank group ltd (NED) Top Compensated Officers

Chief Executive, Executive Director, Member o...
Total Annual Compensation: R18.6M
Chief Financial Officer, Executive Director, ...
Total Annual Compensation: R9.9M
Chief Operating Officer, Executive Director, ...
Total Annual Compensation: R12.4M
Managing Executive of Nedbank Capital
Total Annual Compensation: R16.4M
Managing Executive of Nedbank Corporate
Total Annual Compensation: R10.4M
Compensation as of Fiscal Year 2013.

nedbank group ltd (NED) Key Developments

Nedbank Group Limited Appoints Paul Hanratty as a Non-Executive Director

Nedbank Group Limited announced that Paul Hanratty has been appointed as a non-executive director of Nedbank and Nedbank Group with effect from August 8, 2014. Paul is an executive director and the Chief Operating Officer of Old Mutual plc.

Nedbank Group Limited Declares Interim Dividend for the Six Months Ended June 30, 2014, Payable on September 15, 2014; Announces Consolidated Earnings Results for the Six Months Ended June 30, 2014; Provides Earnings Guidance for the Full Year 2014

Nedbank Group Limited announced a gross interim dividend of 460 cents per ordinary share has been declared, payable to shareholders for the six months ended 30 June 2014. The dividend has been declared out of income reserves. The dividend will be subject to a dividend withholding tax rate of 15% (applicable in SA) or 69.0 cents per ordinary share, resulting in a net dividend of 391.0 cents per ordinary share, unless the shareholder is exempt from paying dividend tax or is entitled to a reduced rate in terms of an applicable double-tax agreement. The dividend is payable on September 15, 2014. Share certificates may not be dematerialized or rematerialized between September 8, 2014, and September 12, 2014, both days inclusive. The company announced consolidated earnings results for the six months ended June 30, 2014. For the period, the company reported net interest income of ZAR 11,263 million against ZAR 10,309 million a year ago. Operating income was ZAR 18,410 million against ZAR 16,519 million a year ago. Profit from operations before non-trading and capital items was ZAR 6,398 million against ZAR 5,464 million a year ago. Profit before direct taxation was ZAR 6,408 million against ZAR 5,460 million a year ago. Profit from operations was ZAR 6,397 million against ZAR 5,460 million a year ago. Profit attributable to equity holders of the parent was ZAR 4,598 million against ZAR 3,910 million a year ago. Diluted earnings per share were 965 cents against 830 cents a year ago. Headline earnings were ZAR 4,599 million against ZAR 3,914 million a year ago. Diluted headline earnings per share increased 16.1% to 965 cents compared to 831 cents a year ago and diluted earnings per share 16.3% to 965 cents compared to 830 cents a year ago. Return on ordinary shareholders equity was 15.1% compared to 14.6% a year ago. Return on total assets was 1.22% compared to 1.15% a year ago. Cash flows utilised by operating activities were ZAR 4,639 million against cash flows from operating activities of ZAR 8,521 million a year ago. The company provided earnings guidance for the full year 2014. For the year, the company guidance for organic growth in diluted HEPS in 2014 to be greater than nominal GDP growth remains unchanged as communicated at the 2013 annual results presentation.

Nedbank Group Limited Announces Executive Changes

Nedbank Group Limited announced changes to its Group Executive Committee. Graham Dempster, the current Chief Operating Officer (COO) and an Executive Director, reaches normal retirement age in May 2015. The COO portfolio comprises Group Technology, Balance Sheet Management, Group Strategy, Group Marketing Communications and Corporate Affairs, Group Human Resources and the rest of Africa businesses. In anticipation of Graham's retirement and in line with the group's succession plans, Mfundo Nkuhlu, currently Managing Executive: Nedbank Corporate, will be appointed as COO from 1 January 2015. Subject to regulatory approval, Mfundo will also be appointed as an executive director to the Nedbank Group Board. From 1 January 2015 Graham will work alongside Mfundo and lead its strategically important activities in the rest of Africa. Graham will remain an executive director until his retirement date. The succession process for the role of Managing Executive: Nedbank Corporate will be completed prior to Mfundo taking up his new role on 1 January 2015. Philip Wessels, currently the Chief Risk Officer (CRO), has been appointed as Managing Executive: Retail and Business Banking with effect from 1 August 2014, following Ingrid Johnson's appointment as Group Finance Director of Old Mutual plc. Trevor Adams, currently Group Managing Executive: Balance Sheet Management will take over as Chief Risk Officer with effect from 1 August 2014, replacing Philip. The process of appointing a replacement for Trevor in his role as Group Managing Executive: Balance Sheet Management will commence shortly. Mfundo Nkuhlu was appointed head of Nedbank Africa in 2004, and head of Corporate Banking in 2005 before becoming a member of Group Exco in 2008 and Managing Executive: Nedbank Corporate in 2009. Prior to joining Nedbank, Mfundo was the executive responsible for strategy, revenue and economic analysis at the South African Revenue Services (SARS) and Chief Director in the DTI responsible for Africa and NEPAD. Philip Wessels has been the CRO and a member of the Group Exco since 2004. Philip has extensive retail and business banking experience, previously holding positions of Divisional Director of Nedbank Businesses Banking, Non-Executive Director of Imperial Bank which included MFC (Nedbank Retail's vehicle finance business) and various executive roles at BoE and Boland Bank between 1995 and 2003. Philip is a qualified chartered accountant and finished his career in the profession as managing partner of the Deloitte Financial Services practice in 1995. Trevor Adams has been head of Balance Sheet Management and a member of Group Exco since 2009. He has extensive risk and credit experience, having designed Nedbank's Enterprise-wide Risk Management Framework and led the group's successful Basel II and Basel III implementations. Prior to joining the group in 1996 he was a partner at Deloitte, where he specialised in banking and risk management, and collectively has over 21 years' banking and risk management related experience. Trevor recently completed the Advanced Management Programme at Harvard, USA.

 

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