Nedbank bucks low growth trend on strong interest income

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(File)
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Johannesburg – Nedbank delivered a solid performance for the 2016 financial year, mainly driven by growth in net interest income (NII) and non-interest revenue (NIR).

This is according to the preliminary audited results for the year ended December 31, 2016, released on Tuesday.

Headline earnings were up by 5.9% to R11.4bn. The group reported lower growth in diluted headline earnings per share (HEPS) by 4.8%, down from 8.5% reported in 2015, to 2350c. Return on Equity (ROE) was at 16.5%, this is 0.5 percentage points lower than ROE reported in 2015.

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