Who we are

Our purpose is the overarching reason we exist. Our purpose connects and unites us. It’s how we create value, the 1 constant in a world of change. It focuses our attention and channels our efforts. Our purpose defines how we see our role in society – a catalyst for growth and an unstoppable force for good. We can’t be a successful business in an unsuccessful society, and we know that purpose-led business is good business.

We make tough decisions to balance short-term profit with long-term value. We have always been the ‘green bank’ and our commitment to our purpose, people and planet is our key differentiator. We resolutely commit to a green economy and a thriving, vibrant, healthy, and sustainable African future. Our purpose directs our strategy and decision-making, resulting in an optimal balance between long-term value creation and short-term results.

Our vision describes what we want our future to look like. It implies that we will continue to build our franchise in South Africa, while expanding into the rest of the African continent. We want to be most admired by our key stakeholders. Without passionate and motivated employees, we will not be able to attract and retain the clients that are key to the delivery of sustainable profits for our shareholders.

As a bank we operate in a regulated environment, and we also aim to be admired by our regulators. Lastly, as a bank we can play a major part in our communities and, as the green bank, we are a strong advocate and influencer on environmental matters.

Our strategic value drivers

Through our strategy we seek to grow revenue faster than expenses and increase levels of productivity, while maintaining world-class risk and capital management metrics to meet our medium- and long-term targets.

Growth

To grow, we focus on gaining profitable market share in key lending categories, increasing our share of transactional main-banked clients and related deposits, and ensuring we deliver market-leading client experiences that will help us attract new clients and deepen our share of wallet among existing clients. We also look to unlock a large insurance opportunity, benefit from solid ongoing associate income growth from our investment in ETI, and grow and scale returns in our Nedbank African Regions business.

Productivity

To boost our productivity and improve operational efficiency, we build on existing efforts to optimise our operating model in a more digital world by leveraging the technology platforms we have put in place.

Risk and capital management

Our world-class risk management capabilities ensures that we balance risk and reward trade-offs appropriately. Our CLR is expected to return to within the target range of 60 bps to 100 bps by the end of 2024, while capital levels will remain strong, supporting future growth. Dividends are expected to be paid at the top end of the group’s payout ratio, subject to board approval.

Strategic value unlocks

Our strategy, which is enabled by our world-class technology platform and our employees as our most important asset, is delivered through 5 strategic value unlocks: digital leadership and digital experiences (DX), market-leading client experiences (CX), focusing on areas that create value (known as strategic portfolio tilt), efficient execution (including target operating model enhancements) and creating positive impacts, including delivering on our purpose of using our financial expertise to do good while maintaining our leadership in ESG matters.

Through our Technology Strategy we have built a world-class financial services technology platform (manufactured and intellectual capital). Our Managed Evolution (ME) transformation programme that has started in 2015, tasked to build a modern, modular and digital information technology (IT) stack, is nearing completion. The platform has enabled the delivery of innovative digital solutions through faster product development cycles and, as a result, we have become more client focused, competitive and agile. Looking forward, we look to leverage the foundations that we have put in place to expand our digital and data capabilities.

Our 4 client-focussed businesses

Our frontline clusters comprise a strong, market-leading Corporate and Investment Bank (CIB), a competitive Retail and Business Bank (RBB), a high-return Wealth business and a growing Nedbank Africa Regions (NAR) business – position us well to compete, lead and grow into the future.

Nedbank CIB is a market leader with strong expertise in commercial-property, corporate lending and renewable energy financing, as well as a strong South African trading franchise with excellent trading capabilities across all asset classes. It has leading expertise across various sectors such as mining, infrastructure financing, telecoms and public sectors. 

RBB offers a full range of 'Banking and Beyond' services, including transactional banking, card and payment solutions, lending solutions, deposit taking services, risk management, investment products, card-acquiring services for businesses, ecosystems and platform-based solutions. We service our 7 million active clients, including more than 300 000 small business clients and more than 14 000 commercial banking client groups.

RBB has market-leading digital capabilities that enable clients to join and engage with the bank through multiple channels and as a result rank as the #1 large bank in client satisfaction metrics (NPS) and market-leadership in vehicle finance and card acquiring. We offer differentiated and disruptive client value propositions (CVPs) across our different client segments, a highly competitive relationship banking offering for our affluent and small-business clients and are well-positioned and with distinctive CVPs in Commercial Banking.