Nedbank is expecting better financial outcomes in 2018 as SA begins to tackle issues such as weak infrastructure, the state capture scandal and discredited policies such as the Mining Charter, along with political infighting and resulting credit-rating downgrades. “Political uncertainty impac-ted on market risk and credit risk in 2017,” said Nedbank CEO Mike Brown, adding that business and consumer confidence were low in 2017. This resulted in Nedbank’s new loan payouts in the year to December 2017 declining 5% to R153bn, with most payouts (about R66bn) made to retail banking customers. The bank’s headline earnings, excluding pan-African associate Ecobank Transnatio-nal Incorporated (ETI), rose 7.8% to R12.8bn, the bulk of the growth coming from the retail and business bank, where earnings grew 6.9% to R5.3bn. With losses from ETI inclu-ded, Nedbank’s earnings were 2.8% up to R11.8bn, with the bank declaring a final dividend of 675c per share, 7.1% higher than the previous year. Rai...
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