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WATCH: Loss at Nedbank’s rest of Africa unit widens
Nedbank, SA’s fourth-largest bank, released its full-year results on Friday, and reported an increase in earnings of just more than 2%. Losses in its associates, however, held back higher growth. Business Day reported that the loss contributed by its rest of Africa division grew to R810m from R287m in 2016. But Nedbank’s rest of Africa division did manage to produce impressive income growth of 31% to R2.5bn, taking its contribution to 5% of the group’s total income of R51.7bn. Nedbank CEO Mike Brown spoke to Business Day TV to give viewers a closer look at the numbers. OR LISTEN TO THE AUDIO: Listen to all latest podcasts here.
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