Business Review

Banking

Nedbank Group is South Africa's fourth largest banking group measured by assets, with a strong deposit franchise and the second largest retail deposit base. Old Mutual owned on average 54% of Nedbank Group during 2010. Nedbank is listed on the Johannesburg and Namibian Stock Exchanges. As at 31 December 2010, its market capitalisation was £6.2bn.

Key facts

Adjusted operating profit (pre-tax and minorities) £601m 2009: £470m
Number of employees 27,525 2009: 27,047
Total Assets £58.9bn 2009: £47.7bn
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Mike Brown
Chief Executive, Nedbank

Overview

Nedbank Group provides a wide range of wholesale and retail banking services and a growing insurance, asset management and wealth management offering through five main business clusters, namely Nedbank Capital, Nedbank Corporate, Nedbank Business Banking, Nedbank Retail and Nedbank Wealth.

Focused on southern Africa, but with an aspiration to grow its business reach across the whole of the African continent, Nedbank Group is positioned as a bank for all - from both a retail and a wholesale banking perspective.

Acknowledged for its sustainability leadership, Nedbank Group is the first and only carbon-neutral financial services organisation in Africa.

Nedbank Group's headquarters are in Sandton, Johannesburg, while it has large operational centres in Durban and Cape Town, complemented by a regional branch network throughout South Africa and facilities in other southern African countries. These facilities are operated through Nedbank Group's eight affiliated banks and subsidiaries, as well as through branches and representative offices in certain key global financial centres that serve to meet international banking requirements of Nedbank Group's South Africabased multinational clients.

Business profile
Nedbank Capital	Provides comprehensive investment banking solutions to institutional and corporate clients. Has offices in South Africa and London and a representative office in Angola.	The cluster comprises: Investment Banking Global Markets Treasury
Nedbank Corporate	Provides full-service corporate banking to large corporates with an annual turnover in excess of R400 million, including commercial, industrial, retail and residential property finance solutions, and Nedbank Africa, comprising operations servicing both retail and corporate market segments in Lesotho, Malawi, Namibia, Swaziland and Zimbabwe.	The cluster comprises: Corporate Banking Property Finance Nedbank Africa Transactional Banking Corporate Shared Services.
Nedbank Business Banking	Provides commercial banking solutions to small- to medium-sized businesses with an annual turnover of between R7.5 million and R400 million.	The cluster comprises: Four geographically decentralised client-facing business units A strategic business unit, including Specialised Finance, Debtor Management and Client Value Propositions Specialist services, including Investment Management, Transactional Banking Sales, Finance and Business Intelligence/Client Value Management.
Nedbank Retail	Serves the financial needs of individuals and small businesses with up to R7.5 million in annual turnover. Provides transactional, card, lending and investment products and services. The Nedbank Retail Cluster also services merchants and large corporates in respect of card-acquiring services.	The cluster comprises: Secured Lending, including mortgages and motor finance Retail Relationship Banking, which combines Private Banking and Small-Business Services and offers products in a client-centric value proposition Consumer Banking, which consists of channels, personal loans, deposits, transactional banking, client value management and mass tailored offerings based on client insights Card Issuing and Acquiring.
Nedbank Wealth	Comprises three divisions, namely Insurance, Asset Management and Wealth Management, with offices in South Africa and London and on the Isle of Man, Jersey and Guernsey.	The cluster comprises: Insurance includes short-term insurance, life insurance and insurance broking Asset Management offers a range of local and international 'best of breed' unit trusts, private client asset management and multimanagement solutions Wealth Management includes private banking and fiduciary services locally and internationally as well as stockbroking and financial planning.