The South African local currency is expected to continue strengthening as low volatility and high returns attract investors.
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Speculation over tapering of monetary stimulus in the US takes its toll on the rand again.
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Barclays Africa is giving its tellers iPads and offering mobile apps to try to win back market share from Capitec, Standard Bank and Nedbank.
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The rand dropped 1.4% in the past few days as strikes at platinum mines continue.
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As net income interest rose over 8% from a year earlier, the Nedbank Group says income in the first nine months gained as customers boosted lending.
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Nedbank Group has reported a 26% rise in first-half profit, which was helped by a drop in bad debts and its push to boost revenue from fees.
South Africa’s Imperial Holdings is in talks about selling its 49,9% stake in Imperial Bank to Nedbank Group, it said on Friday.
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/ 9 December 2008
Nedbank and Ecobank have entered into a deal to provide customers access to a pan-African banking network covering 30 countries.
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/ 5 December 2008
The case for an early cut in interest rates is now very strong, Nedbank Group’s economic unit said on Friday.
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/ 27 February 2008
Nedbank Group, South Africa’s fourth-largest bank, said on Wednesday 2007 headline earnings per share rose 33,8% despite rising household debt, but it warned of increasing default rates. Nedbank, majority-owned by insurer Old Mutual, said 2007 headline earnings rose 33,5% to R5,921-billion as its retail and corporate units grew on higher investment in infrastructure.