About Nedbank Group

Nedbank Group Limited, through its subsidiaries, offers wholesale and retail banking services, as well as insurance, asset management and wealth management. Segments Nedbank Corporate and Investment Banking Nedbank Corporate and Investment Banking (CIB) offers the full spectrum of transactional, corporate, investment banking and markets solutions, characterised by a highly integrated partnership approach. These solutions include lending products, advisory services, leverage financing, trading, brokering, structuring, hedging and client coverage. The cluster has expertise in a broad spectrum of product and relationship-based solutions, including specialist corporate finance advice, innovative products and services, customized transactional banking and commercial-property finance. Nedbank CIB's primary client-facing units are Markets, Investment Banking, Property Finance, Transactional Services, and Client Coverage. Nedbank Retail and Business Banking Nedbank Retail and Business Banking serves the financial needs of all individuals (excluding high-net-worth individuals serviced by Nedbank Wealth) and small businesses with a turnover of up to R30m to whom it offers a full spectrum of banking and assurance products and services. The retail product portfolio includes transactional accounts, home loans, vehicle and asset finance [including the Motor Finance Corporation (MFC)], card (both card-issuing and merchant-acquiring services), personal loans and investments. The commercial banking portfolio provides relationship-based banking services to mid-sized and large commercial entities, including tailored banking and financial propositions for agricultural, franchising and manufacturing industries, as well as the public sector. Nedbank Wealth Nedbank Wealth provides insurance, asset management and wealth management solutions to clients ranging from entry-level to high-net-worth individuals. Insurance provides life and non-life insurance solutions for individuals and businesses, including simple risk, funeral, vehicle, personal-accident, credit life and investment solutions. Asset Management offers local and international unit trusts, cash management and multi-management solutions. Wealth Management provides specialist services to meet the needs of high-net-worth clients locally and internationally, as well as trust and estate planning, stockbroking and financial planning for the broader Nedbank client base. Nedbank Wealth has operations in SA, London, Jersey, the United Arab Emirates and on the Isle of Man. Nedbank Africa Regions Nedbank Africa Regions (NAR) is responsible for the group's banking operations and expansion activities on the rest of the African continent and has client-facing subsidiaries (retail and wholesale banking) in Eswatini, Lesotho, Namibia, Mozambique, and Zimbabwe. The cluster also holds a 21,2% investment in Ecobank Transnational Incorporated (ETI), manages the Ecobank-Nedbank alliance and facilitates investment in other countries in Africa. Centre Centre is an aggregation of business operations that provide various support services to Nedbank Group Limited, and includes the following clusters: Group Finance; Group Technology; Group Strategic Planning and Economics; Group Human Resources; Group Compliance; Group Risk; and Group Marketing, Communications and Corporate Affairs. Centre also includes Group Balance Sheet Management, which is responsible for capital management, funding and liquidity risk management, the management of banking book interest rate risk, margin management, and strategic portfolio tilt. Loans and Advances The company extends advances to individuals and to the corporate, commercial and public sectors. Advances made to individuals are mostly in the form of mortgages, instalment credit, overdrafts, personal loans and credit card borrowings. Categories of Loans and Advances: Includes mortgage loans, such as home loans and commercial mortgages; instalment debtors; credit cards; and other loans and advances, such as properties in possession, overdrafts, personal loans, term and other loans, covid-19 loan guarantee scheme, listed corporate bonds, overnight loans, foreign-client lending, preference shares and debentures, factoring accounts, deposits placed under reverse repurchase agreements, trade, other bills and bankers' acceptances, and fair-value hedge-accounted portfolios. Government and Other Securities The company's government and other securities are government and government-guaranteed securities; other dated securities (includes securitized assets); fair-value hedge-accounted portfolios; and impairment of government and other securities. Other Short-Term Securities The company's other short-term securities are negotiable certificates of deposit, treasury bills and other bonds, and impairment of other short-term securities. Deposits The company's deposits are current accounts; savings deposits; and other deposits and loan accounts, such as call and term deposits, fixed deposits, cash management deposits, and other deposits and loan accounts; foreign currency liabilities; negotiable certificates of deposit; deposits received under repurchase agreements; and macro fair-value hedge-accounted portfolios. Investment Securities The company's investment securities include private-equity investments, such as private-equity associates and joint-ventures - property partners, private-equity associates - investment banking, private equity (unlisted) - property partners, and private equity (unlisted) - investment and banking. History The company was founded in 1831. It was formerly known as Nedcor Limited and changed its name to Nedbank Group Limited in 2005.