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Nedbank narrows net interest margin

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Johannesburg - Nedbank Group's net interest margin narrowed to 3.32% in the third quarter of 2015, compared to 3.53% in the third quarter of 2014 and 3.36% in June 2015.

According to CEO Mike Brown, this was as the benefits of endowment income and improved pricing in certain advances categories were offset by asset mix changes, increased levels of high-quality liquid assets and a higher cost of funding.

By mid-afternoon Nedbank Group's share price was down 1.58% at R226.84.

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