WATCH: The strategy behind turnaround at Nedbank’s Ecobank
Nedbank released its interim results on Wednesday, reporting a 27% rise in headline earnings largely driven by its West African associate’s turnaround.
Ecobank swung to a profit of R134m from a loss of more than R1bn. Revenue is up nearly 4%, the interim dividend is up 14% and the company expects its rest of Africa businesses to lead overall earnings growth in 2018.
Nedbank CEO Mike Brown joined Business Day TV to discuss the numbers and what he expects the bank’s second half to look like.
Nedbank CEO Mike Brown talks to Business Day TV about the bank’s interim results