Nedbank Group

Nedbank Group Limited is one of the five largest banking groups in South Africa by assets and deposits. Nedbank Limited is the Group’s principal subsidiary. It offers wholesale and retail banking, insurance, asset management, internet banking and other services through four main business units: Corporate and Investment Banking, Retail and Business Banking, Nedbank Wealth and the Rest of Africa division. As at December 2025 the Group had 25,795 permanent employees and served some 8 million clients through its outlet and ATM network (about 700 outlets and 4,050 ATMs in 2017), large operational centers in Durban and Cape Town as well as subsidiaries in Lesotho, Namibia, Malawi, Mozambique, Swaziland, Zimbabwe and representative offices in Angola and Kenya. Nedbank Wealth provides insurance and wealth management solutions to high-net-worth individuals through offices in South Africa, London, Isle of Man, Jersey, Guernsey and the UAE. Nedbank was founded in 1888 and is headquartered in Sandton, Johannesburg. The company’s shares have been listed on the Johannesburg Stock Exchange since 1969 and on the Namibian Stock Exchange since 2007. In 2014, Nedbank acquired an initial stake of 36.4% in Banco Unico, the sixth largest full service bank in Mozambique. It took a majority holding of 50% plus one share in 2016, increased that to 87.5% in 2020, and rebranded the business as Nedbank Mozambique on 28 June 2021; the subsidiary trades at www.nedbank.co.mz. Old Mutual was Nedbank’s majority shareholder until 15 October 2018, when it unbundled the majority of that holding to its own shareholders as the final step in the managed separation of the Old Mutual plc group, retaining a minority stake of 19.9% held through Old Mutual Life Assurance Company (South Africa) Limited. Nedbank has had no controlling shareholder since. As at December 2025 the Group reported total assets of R1.6 trillion, assets under management of R501 billion and headline earnings of R17.2 billion, with a common equity tier 1 capital ratio of 12.9%. At June 30, 2017 it had reported R965.8 billion (US$74 billion) in total assets, R762.7 billion in deposits and R295 billion in assets under management, and a market capitalization of R107 billion at October 20, 2017.

Nedbank Major Shareholders (2017)

OMLACSA - Old Mutual Life Assurance Company (South Africa) Limited. The holdings above are a 2017 snapshot, recorded before Old Mutual unbundled the majority of its Nedbank shareholding on 15 October 2018 and cut its interest to 19.9%.

Head office address:
135 Rivonia Road
Sandown 2196
South Africa
Phone number: +27 8605 55111
Website: www.nedbank.co.za

Cape Town
Clocktower Precinct
V&A Waterfront
Cape Town 8001

London branch
Old Mutual Place
2 Lambeth Hill
London, EC4V 4GG, UK
www.nedbank.co.uk
Established in London in 1906, it is one of the oldest foreign banks in the city.

Acquisitions and Disposals

In January 2026 Nedbank Group gave notice of its intention to acquire approximately 66% of the issued share capital of NCBA Group PLC of Kenya, 1,087,362,891 shares, by way of a partial pro rata offer. The offer opened on 28 May 2026 and closed on 10 July 2026, with completion indicated for the third quarter of 2026. The group has also agreed to sell its 21.2% shareholding in Ecobank Transnational Incorporated to Bosquet Investments Limited for US$100 million, and to acquire the South African fintech iKhokha for approximately R1.65 billion.