Banks are under pressure right now - cutting earnings, losing deposits, and burdened by bad debt. Nedbank is the latest to release results, reporting an almost 70 per cent loss in interim earnings. Is the worst over? The markets seem to doubt it. Nedbank CEO Mike Brown joins CNBC Africa for more.
JOHANNESBURG (Reuters) - South Africa’s Nedbank said on Wednesday it was hopeful the worst impacts of the COVID-19 pandemic were in the past and that bad debts would fall in...
(Reuters) - South Africa’s Nedbank Group said on Tuesday Raisibe Morathi has resigned as the chief financial officer (CFO) and executive director of Nedbank Group and Nedbank boards with effect...
JOHANNESBURG (Reuters) - South Africa’s Nedbank Group Ltd said on Thursday that its headline earnings per share (HEPS) for the half year that ended June would fall between 67% and...
As the effects of COVID-19 are felt around the world, real estate companies are being impacted in different ways, largely dependent on region and asset class.
A multi-billion rand loan guarantee scheme announced by South African President Cyril Ramaphosa last month is now officially in operation, with the assistance of the country’s major banks, including FNB, Investec, Standard Bank and Absa.
Nedbank has assured shareholders that they will be paid their final dividend of R6.95 per share later this month. But the bank warned future dividends will be impacted by guidelines from South Africa’s Reserve Bank that dividends and bonuses be put on ice while the country fights the coronavirus. Mike Brown, Nedbank CEO joins CNBC Africa for more.
Three of South Africa’s major banks have revealed to CNBC Africa how small businesses can apply for funding from the South Africa Future Trust. This is what they had to say.