Our South African businesses grew by about 7%.— Mike Brown, Nedbank
If we don’t get a local currency downgrade we expect 100 basis points in interest rate cuts in this cycle.— Mike Brown, Nedbank
Nedbank reported a 3.7% drop in profits for the first half of 2017.
The bank was hammered by poor performance of the West African Ecobank, of which it owns roughly 16%.
The Money Show’s Bruce Whitfield interviewed Nedbank Group CEO Mike Brown.
Listen to the interview in the audio below (and/or scroll down for more quotes from it).
Our investment in ETI continues to underperform.— Mike Brown, Nedbank
We didn’t anticipate the collapse in the oil price and Nigeria going into a recession.— Mike Brown, Nedbank
Investments in the African continent are long-term.— Mike Brown, Nedbank
The IMF projects growth of about 3% in Nigeria. At that rate of growth you’ll find our investment in ETI performing well.— Mike Brown, Nedbank
We project the South African economy to grow by 0.6% in 2017.— Mike Brown, Nedbank
We are the only bank where you can do a mortgage application online.— Mike Brown, Nedbank
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