Nedbank delivers improved financial performance. Positions itself for growth with realignment of business banking
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GUEST - Mfundo Nkuhlu – COO of Nedbank Group
Nedbank Group delivered an improved financial performance for the year ended 31 December 2024 as headline earnings increased by 8% to R16,9bn, diluted headline earnings per share increased by 11%, and the group’s ROE strengthened to 15,8%, from 15,1% in the prior period, reflecting steady progress towards its ROE targets.
Headline earnings growth was underpinned by good non-interest revenue growth, a lower impairment charge and targeted expense management, offsetting muted net interest income growth given slower loan growth and margin pressure. Balance sheet metrics all remained very strong, enabling the declaration of a final dividend of 1 104 cents per share, up by 8% at a payout ratio of 57%.
Nedbank Group delivered an improved financial performance for the year ended 31 December 2024 as headline earnings increased by 8% to R16,9bn, diluted headline earnings per share increased by 11%, and the group’s ROE strengthened to 15,8%, from 15,1% in the prior period, reflecting steady progress towards its ROE targets.
Headline earnings growth was underpinned by good non-interest revenue growth, a lower impairment charge and targeted expense management, offsetting muted net interest income growth given slower loan growth and margin pressure. Balance sheet metrics all remained very strong, enabling the declaration of a final dividend of 1 104 cents per share, up by 8% at a payout ratio of 57%.