{"id":15965,"date":"2012-10-29T20:09:38","date_gmt":"2012-10-29T18:09:38","guid":{"rendered":"http:\/\/www.myza.co.za\/10\/corrected-update-2-s-africas-nedbank-lifted-by-higher-risk-lending\/"},"modified":"2012-10-29T20:09:38","modified_gmt":"2012-10-29T18:09:38","slug":"corrected-update-2-s-africas-nedbank-lifted-by-higher-risk-lending","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/corrected-update-2-s-africas-nedbank-lifted-by-higher-risk-lending\/","title":{"rendered":"CORRECTED-UPDATE 2-S.Africa&#8217;s Nedbank lifted by higher-risk lending"},"content":{"rendered":"<p>\t\t<span><\/span><\/p>\n<p>(corrects seventh paragraph, Nedbank S.Africa&#8217;s No.4 bank, not<br \/>\nNo.2)<span><\/span><\/p>\n<p><span><\/span><\/p>\n<p>* Non-interest revenue up 14 pct<\/p>\n<p><span><\/span><\/p>\n<p>* Net interest income up 9 pct<\/p>\n<p><span><\/span><\/p>\n<p>* Shares flat<\/p>\n<p><span><\/span><\/p>\n<p>By David Dolan<\/p>\n<p><span><\/span><\/p>\n<p>JOHANNESBURG, Oct 29 (Reuters) &#8211; Nedbank Group<br \/>\nannounced on Monday that it is on track for double-digit<br \/>\nearnings growth this year, the latest South African bank to<br \/>\nbenefit from a rise in higher-risk lending.<\/p>\n<p><span><\/span><\/p>\n<p>Hampered by weak corporate demand for credit, the country&#8217;s<br \/>\nbig banks have ramped up unsecured lending &#8211; the profitable but<br \/>\nriskier practice of giving loans that are not backed by<br \/>\ncollateral.<\/p>\n<p><span><\/span><\/p>\n<p>Unsecured loans in Africa&#8217;s top economy surged 21 percent in<br \/>\nthe year to June and now total a $43 billion, the central bank<br \/>\nsaid last week, as Nedbank and its rivals continue to push<br \/>\nprofitable credit cards and personal loans.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;It&#8217;s probably the key risk facing South African banks,&#8221;<br \/>\nJohann Scholtz, banking analyst at Afrifocus Securities in Cape<br \/>\nTown, said of unsecured lending.<br \/>\n\u00a0 <span class=\"label\"><strong>Continued&#8230;<\/strong><\/span><\/p>\n<p><span><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(corrects seventh paragraph, Nedbank S.Africa&#8217;s No.4 bank, not No.2) * Non-interest revenue up 14 pct * Net interest income up 9 pct * Shares flat By David Dolan JOHANNESBURG, Oct 29 (Reuters) &#8211; Nedbank Group announced on Monday that it is on track for double-digit earnings growth this year, the latest South African bank to [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","ngg_post_thumbnail":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[830,2370,183],"class_list":{"0":"post-15965","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-south-africa","7":"tag-news","8":"tag-reuters","9":"tag-south-africa-2","10":"entry"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/15965","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/comments?post=15965"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/15965\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=15965"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=15965"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=15965"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}