* Sees FY diluted headline EPS up 23-28 pct
* Analyst estimates for 25 pct increase
(Adds details)
JOHANNESBURG, Feb 6 – Nedbank, South Africa’s
fourth-largest lender, said its full-year earnings rose by as
much as 28 percent, boosted by higher non-interest revenues and
a better-performing retail unit.
Nedbank, like other banks in Africa’s top economy, has been
on a push to boost the money it makes from transactions, to
offset weakness in loan demand.
The bank, which is majority owned by insurer Old Mutual,
said in a statement on Monday it expects to
report a 23 to 28 percent increase in diluted headline earnings
per share for the year to end-December.
That compares with an average estimate of a 25 percent
increase in a poll of 14 analysts by Thomson Reuters.
Bigger rival Absa has also flagged its own profits
will increase by as much as 22 percent.
Nedbank is due to report its full-year financial results on
Feb. 29. Its shares were up 0.94 percent at 160.49 rand at 0743
GMT, compared with a 0.12 percent rise in the Top-40 index
.
(Reporting by Helen Nyambura-Mwaura; editing by David Dolan)
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