Contents

Deals and Investment
Executive and Key People
Growth
Events and Transactions
Nedbank
Growth:
Nedbank, reported its lowest half-year earnings growth in six years but said it was dragged down by a loss at Ecobank in the fourth quarter of last year.

The lender and its peers are struggling against a South African economy heading toward a recession and a potential credit-rating downgrade of the country’s debt to junk by the end of the year. But on August 2nd it was reported shares in the bank jumped 7 percent after the lender reported rises in income from interest, fees and commissions and its associate Ecobank returned to profit in the first half of the year.

Key People:
Nedbank Corporate and Investment Banking (NCIB) has named Michael Creighton as its head of export credit finance.

Sandile Shabalala, Managing Executive of Business Banking has resigned effective September 2nd, 2016. Ciko Thomas, the Group Managing Executive for Nedbank Retail and Business Banking, will assume direct leadership responsibility until a successor is appointed.

John Maree former chairmen of Nedbank died at age 92 on July 27th.

Rob Leith, director of managed separation at Old Mutual, Nedbank's holding company, has been appointed non-executive director of the boards of Nedbank Group and Nedbank effective October 13.

Investments, Deals, and Growth:
Nedbank has partnered with Cunningham Lindsey, leading loss adjustment firm, to create the country’s first graduate training programme for loss adjusters.

LaunchLab in partnership with Nedbank has launched a Fintech and Big Data Challenge which commenced on 16 August 2016. The final event will take place on October 20th. The challenge will seek to find innovative ideas that will alter the way consumers bank in Africa.

UnionPay International has concluded an agreement with Nedbank for the acceptance of UnionPay cards on Nedbank-operated ATMs and point-of-sale terminals, paving the way for acceptance of e-commerce and contactless transactions.

Nedbank Private Equity and Convergence Partners have backed a deal to invest an approximate $17.2 million (R250 million) into South Africa-based technology company Comsol.

Zurich Insurance Company South Africa Limited (Zurich) has entered into a preferred travel insurance partnership with Nedbank. Zurich will be the provider of travel insurance to Nedbank, SAA Voyager and American Express cardholders.

Nedbank has renewed its advertising campaign with South-Africa’s outdoor media specialist, Primedia Outdoor’s AdLite holdings, to maintain and build brand awareness, serve and connect with communities, and ensure a greater level of convenience for their customers.
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Deals and Investment
Nedbank and Cunningham Lindsey partner to bring a first for South Africa
Nedbank has partnered with Cunningham Lindsey, leading loss adjustment firm, to create the country’s first graduate training programme for loss adjusters.
FA News on Sep 22, 2016
LaunchLab, Nedbank on hunt for next big thing in fintech, big data
LaunchLab in partnership with Nedbank has launched a Fintech and Big Data Challenge which commenced on 16 August 2016 and will continue to 23 September with the final event take place on 20 October of this year.
Venture Burn on Aug 19, 2016
Nedbank signs deal to acquire UnionPay cards in South Africa
UnionPay International has concluded an agreement with Nedbank for the acceptance of UnionPay cards on Nedbank-operated ATMs and point-of-sale terminals, paving the way for acceptance of e-commerce and contactless transactions.
SourcesPlus - Deal Activity on Jul 27, 2016
SAA tender mess puts R278 million Nedbank deal on ice
South African Airways' (SAA) controversial appointment of little-known finance company BnP Capital was not only expensive; it also put on hold an approved banking tender to Nedbank.
BusinessTech on Jul 19, 2016
Nedbank & Convergence back tech deal
Nedbank Private Equity and Convergence Partners have backed a deal to invest an approximate $17.2 million (R250 million) into South Africa-based technology company Comsol.
Private Equity Africa - News on Jul 6, 2016
Zurich secures travel insurance partnership with Nedbank
Zurich Insurance Company South Africa Limited (Zurich) has entered into a preferred travel insurance partnership with Nedbank. Zurich will be the provider of travel insurance to Nedbank, SAA Voyager and American Express cardholders.
FA News on Jul 4, 2016
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Executive and Key People
Leith appointed to Nedbank boards
Rob Leith, director of managed separation at Old Mutual, Nedbank's holding company, has been appointed non-executive director of the boards of Nedbank Group and Nedbank with effect from October 13, it was announced on Friday.
Independent Online Business News on Oct 7, 2016
NEDBANK GROUP LIMITED - Resignation of Managing Executive of Business Banking
Nedbank Group regrets to announce the resignation of Sandile Shabalala, Managing Executive of Business Banking with immediate effect. Sandile reported to Ciko Thomas, the Group Managing Executive for Nedbank Retail and Business Banking, and was a member of our Group Executive Committee.

Ciko will assume direct leadership responsibility for Business Banking until the successor is appointed. We have a deep pool of talent in Nedbank and the internal process to identify Sandile’s replacement is well underway.

Sharenet JSE Stock Exchange News on Sep 2, 2016
John Maree left ‘a glowing legacy to our beloved country’
The former chairman of Eskom and Nedbank was ‘a credit to his family, his country, the Afrikaans folk and to humanity at large’
Business Day Live - National on Aug 11, 2016
Nedbank names new head of export credit finance
Nedbank Corporate and Investment Banking (NCIB) has named Michael Creighton as its head of export credit finance.

Creighton makes the move to the bank from Sace, where he was the Italian export credit agency’s head of Africa. He also served as executive director at Credit Underwriting Agency (CUAL) and, until recently, was the chairperson of the African Trade Insurance Agency’s (ATI) finance and audit committee. He was appointed a board member of ATI in 2010.

Global Trade Review on Jul 12, 2016
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Growth
South Africa’s big four banks spend IT big
The big four retail and commercial banks in South Africa – Standard Bank, Absa/Barclays Africa, FirstRand and Nedbank – have been upping their games in information technology (IT) expenditure.

For the year ended 30 June 2016, they spent in excess of ZAR 30 billion ($2.2 billion) on IT projects and modernisation – and that includes staff costs.

Banking Technology - Global News on Sep 21, 2016
Nedbank innovates on small outdoor advertising format with big results
Nedbank has renewed its advertising campaign with South-Africa’s outdoor media specialist, Primedia Outdoor’s AdLite holdings, to maintain and build brand awareness, serve and connect with communities, and ensure a greater level of convenience for their customers.
Media Update on Aug 24, 2016
A startling contrast between Absa and Nedbank (or not?)
On a headline basis, financial results from Barclays Africa Group and Nedbank Group for the first six months of 2016 would have you believe these two banks are operating in two different markets and economies entirely. The former reported a credit loss ratio of 1.29% (from 0.97% in June 2015), while the latter described an improvement to 0.67% (from 0.77% 12 months prior). In other words, for every R100 lent across the business, Barclays Africa expects to not recover, on average, R1.29; Nedbank, 67c.
MoneyWeb - Industry on Aug 3, 2016
Nedbank defaults up as higher rates press consumers
Under its new accounting regime the banking group reports R18.4bn in total defaulted advances at the end of June
Business Day Live News on Aug 2, 2016
UPDATE 1-South Africa's Nedbank H1 profit growth slows as Ecobank weighs
South Africa's No.4 lender Nedbank Group reported a sharp slowdown in half-year profit growth on Monday, weighed down by losses at its struggling pan-African associate Ecobank and weak consumption spending at home.
Reuters Financial News on Aug 1, 2016
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Events and Transactions
Nedbank-p interim results 31 June 2016
Net interest income rose by 10.3% to R12.111 billion (2015: R10.981 billion). Profit from operations grew by 21.3% to R6.699 billion (2015: R5.523 billion) and profit attributable to ordinary and preference equity holders increased by 25% to R5.030 billion (2015: R4.024 billion).

Nedbank non-redeemable non-cumulative preference shares - declaration of dividend no 27
Notice is hereby given that gross preference dividend no 27 of 42.75385 cents per share has been declared for the period from 1 January 2016 to 30 June 2016, payable on Monday, 29 August 2016, to shareholders of the Nedbank non-redeemable non-cumulative preference shares recognised in the accounting records of the company at the close of business on Friday, 26 August 2016. The dividend has been declared out of income reserves.

Sharenet News Headlines on Aug 1, 2016
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