The group delivered revenue growth of 11% to R30.5 billion, while headline earnings increased by 27% to R6.7 billion. Return on equity increased to 13.6%, up from 11.7% a year ago.
“During the past six months we continued to make good progress on our strategic value drivers of growth, productivity, and risk and capital management,” said Mike Brown, Nedbank chief executive. “Growth trends across net interest income , non- Brown said that the group’s Managed Evolution technology strategy has reached 89% completion of the IT build, enabling continued double-digit growth in digital metrics.
“Looking forward, we currently expect SA’s GDP to increase by 1,8% in 2022; interest rates to increase by a further 75 bps, taking the repo rate to 6,25%; and the prime lending rate to 9,75% by the end of the year,” said Brown.
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MARKET WRAP: JSE and rand firmer, with investors’ focus on US inflation reportSentiment remains cautious as a strong US jobs report signals a good chance the Fed will implement another 75 bps rate hike Thanks for restoring my happiness in my dark days, During this period I invested $1500 and to my greatest surprise I got a return of $15,500. He's reliability can’t be equated _JamesAlderson
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