MEMBER BANKS
Introducing Banking Association Member
Nedbank
Q&A
Name of bank: Nedbank Group Ltd.
Who owns the bank: 52% is owned by Old Mutual Plc.
Core business: Nedbank consists of five core clusters: Nedbank
Capital, Nedbank Corporate, Business Banking, Nedbank Retail and
Nedbank Wealth.
Target market: Nedbank is a universal bank, offering products and
services to all client groupings from individuals (entry level to high
net-worth), small businesses to large corporates, multinationals and
the public sector.
Core values or differentiators: Nedbank is a vision-led and valuesdriven company. The most prevalent values, as voted by staff are:
accountability, integrity, respect, pushing beyond boundaries and
people-centred.
Our Deep Green Aspirations is a differentiator and informs our
products, our operations and business goals.
Any newsworthy changes in the bank’s structure or business
in the near future? Given that Africa remains a key medium- to
long-term strategic focus area, the Africa division, which previously
reported under Nedbank Corporate, has been transferred to the
centre and reports to our COO, Graham Dempster.
Is there a key product or initiative you wish to highlight?
Nedbank is making banking more convenient for clients by adding
a significant amount of new outlets and ATMs, extending opening
hours in 58 outlets and Sunday banking in 50.
The success of client value propositions such as Ke Yona (mass
market), Savvy (middle market) and Nedbank 4 Me (youth market)
resulted in client gains significantly above the industry average
and improved cross-sell, evidenced by the 17% growth in NIR.
Nedbank also saw increases in the M-Pesa registrations offering
(with Vodacom), up 7-fold to 955 000.
Servicing the business owner in his personal as well as business
capacity is a new unique approach offered by Nedbank (convenience
of one point of contact), while the Nedbank@Work proposition of
servicing a business’ staff has been highly successful, adding 80 000
new clients in just six months.
Nedbank is the first and only bank to have launched a retail
savings bond, raising over R6 billion in funding since inception,
followed by a green savings bond, supporting the funding of renewable energy projects.
Contact details
www.Nedbankgroup.co.za
Tel: +27 011 294 4444
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SA BANKER
Edition 3
International links: Through Old Mutual Plc and in Africa
through our Ecobank Alliance, we have rights to acquire up to 20%
in Ecobank (ETI, between November 2013 and November 2014.
We also have operations in the UK, in investment banking as well as
our private bank, Fairbairn.
CEO AND CHAIRPERSON:
CHIEF EXECUTIVE NEDBANK LTD: MIKE BROWN
NEDBANK CHAIRMAN: REUEL KHOZA
CSI: The achievement of true social sustainability in
Africa requires more than just financial support. It
demands commitment to the principles of economic
upliftment, business development, job creation, community
empowerment and social transformation.
Nedbank Group actively seeks out and pursues
opportunities to support communities, develop and grow
small businesses, foster job creation and contribute to
the overall development of a sustainable and robust social
structure in SA and Africa.