Nedbank hits client milestone

Nedbank on Monday (25 February) heralded the launch of several online initiatives in 2012, adding that its client base has surpassed the six million mark.

The bank reported a 19% rise in diluted headline earnings per share to R15.95 for the year ended December 2012 and lifted its full year dividend per share 24.3% to 7.52 rand.

“In 2012 we created over 450 new permanent jobs in South Africa and our great-value banking offerings led to 655,000 more clients banking with Nedbank, taking the total number of clients who choose to bank with us above six million,” said Nedbank CEO, Mike Brown.

The group said it increased its footprint by 80 net new staffed outlets and 476 net new ATMs.

The financial services group highlighted the launch of its Nedbank App Suite, and MyFinancialLife in 2012. The group has since added to this offering by launching a mobile point-of-sale (POS) service earlier this month (February).

Nedbank’s online personal financial management tool – My Financial Life – went live in October and provides a consolidated view of users’ entire financial position through an online portal.

In January, the group said its App Suite had achieved 115,000 downloads since its launch in July 2012.

Nedbank said that new gains in customers included 377,000 entry-level banking clients, 165,000 middle-market clients, 1,113 high-net-worth clients, 775 and 27 new business banking and corporate primary-banked clients respectively.

“Nedbank Corporate performed well, producing good earnings growth of 15.7% and an ROE (return on equity) of 22.5%, underpinned by increased cash and electronic banking volumes, a strong delivery from the listed-property investment portfolio and favourable deposit growth,” it said.

The bank also pointed to greater efficiencies in its technology division, including the rationalisation of 20 banking systems and the reduction of its servers from 3,500 to 1,139 since 2009.

Earlier this month, Absa, which boasts 12.2 million customers, reported a 9% decline in diluted headline earnings per share to 1‚224.6 cents for the period ended December 2012.

The group installed more than 1,500 new ATMs and the new Cash Accepting ATMs with Scan ‘n Pay functionality in 2012.

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Nedbank hits client milestone