Tag: credit loss
Major banks analysis – resilient performance amid challenges
South Africa’s major banks maintained steady growth in 2024 despite a challenging operating climate and macroeconomic uncertainties. Combined headline earnings grew by 5.9%, reaching R119 billion. This surpassed FY23 results. The combined ROE stood at 17.5% (FY23: 17.6%). The net interest margin was 451 bps (FY23: 459 bps). The credit loss ratio improved to 89 bps (FY23: 102 bps).
Nedbank delivered a strong recovery in 2021
Nedbank has released results for the year ended December 2021. Naturally, this was a much happier year for Nedbank than the year before. The commodity cycle pulled our economy through a tough time, which has knock-on benefits for the big banks.
Nedbank hit by the Great Lockdown Crisis
The banking group is hopeful that impairments will decline, and client activity will continue to improve as the year progresses. Nedbank believes the worst may be behind it after suffering a large decline in first-half earnings due to what is has billed as the Great Lockdown Crisis (GLC).
