Nedbank rallies on robust earnings guidance

Nedbank’s share price outperformed its rivals and the JSE all share index after it said its financial performance in the first 10 months of 2022 had been robust as higher interest rates boosted earnings from credit extension.

The Johannesburg lender’s share price rose 2.77% to R219 on Tuesday after it also flagged healthy capital levels that should support continued dividend payments. In comparison, the banking index added 1.08% while the Alsi fell 0.18%...A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and TimesLive Premium.

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Nedbank’s robust earnings get boost from higher interest ratesBanking group’s strong capital levels make for dividend range of 1.75-2.25 times cover
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