{"id":8443,"date":"2012-02-29T14:43:25","date_gmt":"2012-02-29T12:43:25","guid":{"rendered":"http:\/\/www.myza.co.za\/02\/update-2-bank-fees-boost-s-africas-nedbank-fy-profit\/"},"modified":"2012-02-29T14:43:25","modified_gmt":"2012-02-29T12:43:25","slug":"update-2-bank-fees-boost-s-africas-nedbank-fy-profit","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/update-2-bank-fees-boost-s-africas-nedbank-fy-profit\/","title":{"rendered":"UPDATE 2-Bank fees boost S.Africa&#8217;s Nedbank FY profit"},"content":{"rendered":"<p>\t\t<span><\/span><\/p>\n<p>* FY diluted headline EPS 1,340 cents vs 1,069 cents<span><\/span><\/p>\n<p><span><\/span><\/p>\n<p>* Non-interest revenue up more than 16 percent<\/p>\n<p><span><\/span><\/p>\n<p>* Shares at 11-year high<\/p>\n<p> (Adds details, analyst)<\/p>\n<p><span><\/span><\/p>\n<p>By Helen Nyambura-Mwaura<\/p>\n<p><span><\/span><\/p>\n<p>JOHANNESBURG, Feb 29 (Reuters) &#8211; Nedbank,<br \/>\nSouth Africa&#8217;s fourth-largest lender, posted a 25 percent rise<br \/>\nin full-year earnings following a big jump in fees, the latest<br \/>\nsign its turnaround plan is gaining traction.<\/p>\n<p><span><\/span><\/p>\n<p>South African banks have been focusing on non-interest<br \/>\nrevenues to grow earnings after a 2009 recession knocked credit<br \/>\ndemand back and left lenders struggling with bad debts.<\/p>\n<p><span><\/span><\/p>\n<p>Loan growth is now starting to improve as the lenders turned<br \/>\nto high-margin unsecured personal loans.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;They came in much stronger on the non-interest income line<br \/>\nthan we had expected. The net interest income line was also<br \/>\nslightly better than we expected,&#8221; said Avior Research analyst<br \/>\nFaizal Moolla.<\/p>\n<p><span><\/span><\/p>\n<p>Nedbank&#8217;s shares rose to 11-year highs as investors factored<br \/>\nin a 26 percent increase in dividend payout. The shares are up<br \/>\nover 10 percent so far this year, compared with a 7 percent rise<br \/>\nby the Top-40 index, and were 1.2 percent up on the day<br \/>\nby 1017 GMT.<br \/>\n\u00a0 <span class=\"label\"><strong>Continued&#8230;<\/strong><\/span><\/p>\n<p><span><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>* FY diluted headline EPS 1,340 cents vs 1,069 cents * Non-interest revenue up more than 16 percent * Shares at 11-year high (Adds details, analyst) By Helen Nyambura-Mwaura JOHANNESBURG, Feb 29 (Reuters) &#8211; Nedbank, South Africa&#8217;s fourth-largest lender, posted a 25 percent rise in full-year earnings following a big jump in fees, the latest [&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-8443","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\/8443","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=8443"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/8443\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=8443"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=8443"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=8443"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}