While the pandemic occasioned far-reaching disruptions in Africa’s banking sector, Nedbank, one of the region’s most notable finance institutions, is on the comeback trail. The South African based Pan African focused lender has managed to grow its net interest income following the worst of the pandemic, lowered impairments and is sustainably managing its foreign currency portfolio.
Innovativeness and accelerated digitalization of its banking platforms in response to the COVID-19 pandemic disruptions have unlocked fresh opportunities for the growth and recovery of Nedbank’s operations outside its home market in South Africa.
Apart from its own managed banks in the rest of Africa segment, Nedbank also has an associate investment in Ecobank Transnational Incorporated (ETI), theparent company of pan African bank, Ecobank. Own managed banks are financial institutions that Nedbank controls while the ETI financial institutions are associate partnerships with Ecobank.
Together with its banking operations in southern African countries such as Zimbabwe, Eswatini and Mozambique, the ETI associate investment for Nedbank helped with growth and recovery from the perspective of the rest...
- Get access to expert viewpoints and forward-looking insights
- Gain an edge in a rapidly changing environment
- Receive a weekly digest that cuts through the noise