Nedbank, SA’s fourth biggest bank by assets, has joined peer Absa in not declaring an ordinary final dividend, with full-year profits more than halving as Covid-19 tore into profits and forced the bank to more than double impairments.

Like Absa, Nedbank said on Wednesday that it expects to pay an interim dividend for its 2021 year, saying that despite uncertainty, the outlook for both it and SA’s economy have improved...

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