Nedbank managed to improve its credit-loss ratio and grow profit faster than revenue in its home market during 2016 — an impressive performance marred by losses from its pan-African associate Ecobank. In contrast to Barclays Africa, which reported last Thursday that its credit loss-ratio widened to 1.08% from 0.92%, Nedbank said on Tuesday its credit-loss ratio narrowed to 0.68% from 0.77%. Nedbank declared a final dividend of R6.30, taking its total for 2016 to R12 — an 8.4% increase on the previous year’s R11.07, and beating Barclays Africa’s 3% dividend growth. A R287m headline loss contributed by its rest of Africa division — mainly its 20%-owned Ecobank — slowed its overall headline earnings growth to 6% on 11% growth in operating income. Nedbank’s results for the year to end-December showed its retail and business banking (RBB) division contributed 57% of its R45bn operating income and 43% of its R11.5bn headline earnings. Its corporate investment banking (CIB) division contri...

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