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nedbank Full-year earnings to rise at least 18%

February 21 2013 at 08:00am

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Nedbank expected headline earnings a share for the 12 months to December last year to be between 18 percent and 23 percent higher than the R13.65 it reported for 2011, the bank said in a trading update yesterday. Earnings a share were also expected to increase by between 18 percent and 23 percent from the R13.67 posted for the year to December 2011. The majority-owned banking subsidiary of investment group Old Mutual said it had continued to perform well in the fourth quarter after its trading update at the end of October. For the six months to June 2012 the company reported operating income of R15.2 billion compared with R13bn for the interim period in the year before. Interim headline earnings grew 25.1 percent to R3.4bn and profit was R3.6bn. Nedbank shed 0.17 percent to close at R190.68 yesterday. The results will be published on Monday. – Asha Speckman


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