Nedbank’s client centred approach starts to deliver

The Nedbank Group yesterday stated that a sweeping strategic overhaul aimed at making the bank more client-centred, accelerating growth and diversifying earnings is beginning to pay off, with the group reporting stronger-than-expected interim results despite a challenging operating environment characterised by rising inflation, higher interest rates and continued pressure on household finances.

For the six months ended 30 June 2026, the South African-based banking group reported headline earnings of R8.4 billion, exceeding internal expectations and underpinned by robust net interest income, stronger non-interest revenue growth and disciplined cost management. Although earnings were weighed down by a higher impairment charge and the absence of associate income following the disposal of its stake in Ecobank Transnational Incorporated (ETI), underlying performance remained strong.

Excluding the ETI base effect, diluted headline earnings per share increased by an impressive 15% year-on-year, while return on equity remained resilient at 15%, only marginally lower than the 15.2% recorded a year earlier. The group’s strong capital position also enabled it to declare an interim dividend of 1 052 cents per share.

Nedbank Chief Executive Jason Quinn attributed the performance to bold strategic decisions implemented over the past year.

“In 2025, we took bold steps to become more client-centred, unlock growth and diversify earnings,” Quinn said.