Nedbank is taking customers from other banks

Nedbank. Picture: EWN

Nedbank’s headline earnings improved by 14.5% to R13.5 billion in the year to 31 December 2018, the company reported on Tuesday.

Diluted headline earnings per share is up 13.7% to R27.36 while headline earnings per share increased 13.9% to R27.93.

The bank has 7% more customers than a year ago, growing its market share from 12.7% to 13.1%.

Nedbank employs 31 277 people.

During 2018, Nedbank concluded its “managed separation” from Old Mutual.

The Money Show’s Bruce Whitfield interviewed Mike Brown, CEO at Nedbank Group.

Listen to the interview in the audio below (and scroll down for quotes from it).

Growth remains the single largest challenge facing our country… It feels like we’re at the early stages of an institutional and political recovery…

Mike Brown, CEO - Nedbank Group

We know the consumer is under pressure… growth has to come from the corporate sector…

Mike Brown, CEO - Nedbank Group

We have 604 branches... We think our points of presence will remain roughly around 600… The size of each branch is reducing…

Mike Brown, CEO - Nedbank Group

Our belief is that 2019 will be better than 2018… but only slightly…

Mike Brown, CEO - Nedbank Group

We’ve done enormous damage to our economy and institutions in the last 10 years…

Mike Brown, CEO - Nedbank Group

Get the 10 most-read articles of the week from Bruce Whitfield’s The Money Show, emailed to you every Friday morning:

Subscribe to our Business Wrap Newsletter


Recommended

by NEWSROOM AI
Read More
I see money as energy – David Scott, The Kiffness

I see money as energy – David Scott, The Kiffness

The new billionaire is not the person with a billion rand, but the person who can touch a billion people’s lives, says Scott.

3 best JSE shares to buy, right now (by The Robert Group)

3 best JSE shares to buy, right now (by The Robert Group)

Devin Shutte (Head of Investments at The Robert Group) shares his stock picks of the week with Bruce Whitfield on The Money Show.

How Gavin Watson's Bosasa - born from ANC Women’s League – captured the State

How Gavin Watson's Bosasa - born from ANC Women’s League – captured the State

Bruce Whitfield interviews News24 Editor Adriaan Basson, author of "Blessed by Bosasa - Inside Gavin Watson's State Capture Cult".

Telkom desperately wants Cell C (despite its flirtation with MTN)

Telkom desperately wants Cell C (despite its flirtation with MTN)

Cell C is in a losing race against MTN and Vodacom. Telkom is not going to let this one go, says TechCentral’s Duncan McLeod.

Reuel Khoza - the PIC's new Chair - opens up about money, farming and music

Reuel Khoza - the PIC's new Chair - opens up about money, farming and music

The Money Show’s Bruce Whitfield interviews Khoza about his attitude and beliefs about money (plus successes and failures, etc.).

Old Mutual to keep 20% of Nedbank shareholding after it splits

Old Mutual to keep 20% of Nedbank shareholding after it splits

The Money Show’s Bruce Whitfield interviews Old Mutual Emerging Markets head Peter Moyo.

Popular articles
3 best JSE shares to buy, right now (by The Robert Group)

3 best JSE shares to buy, right now (by The Robert Group)

Devin Shutte (Head of Investments at The Robert Group) shares his stock picks of the week with Bruce Whitfield on The Money Show.

How Gavin Watson's Bosasa - born from ANC Women’s League – captured the State

How Gavin Watson's Bosasa - born from ANC Women’s League – captured the State

Bruce Whitfield interviews News24 Editor Adriaan Basson, author of "Blessed by Bosasa - Inside Gavin Watson's State Capture Cult".

'New Eskom CEO doesn't have Eskom or energy experience'

'New Eskom CEO doesn't have Eskom or energy experience'

Energy expert Ted Blom says Andre de Ruyter has been appointed to execute the mandate of the government and unbundle Eskom.

[WATCH] SABC reporter heading for danger during looting goes viral

[WATCH] SABC reporter heading for danger during looting goes viral

Khabazela shares tweets and Facebook posts that have gone viral.

[WATCH] Dad comes up with genius 'trick' to get newborn baby to feed

[WATCH] Dad comes up with genius 'trick' to get newborn baby to feed

Khabazela shares tweets and Facebook posts that have gone viral.

How to buy your first share (even if you only have R50, or less)

How to buy your first share (even if you only have R50, or less)

Got R50? No? Got R5? Personal finance expert Warren Ingram on how to buy shares with tiny amounts of money.

13 tips for saving hundreds (nay, thousands!) of rands each month

13 tips for saving hundreds (nay, thousands!) of rands each month

The economy is toast. Personal finance expert Warren Ingram shares 13 highly effective tips for making ends meet.

How to retire while you’re still young(ish)

How to retire while you’re still young(ish)

If you do things differently, it’s possible stop working far earlier than you ever thought possible, says Warren Ingram.