Nedbank Corporate provides full-service corporate banking to large corporates with an annual turnover in excess of R400 million, including commercial and industrial property finance solutions.

• Corporate Banking;
• Transactional Banking;
• Property Finance;
• Nedbank Africa;
• Nedbank Investor Services; and
• Corporate Shared Services.

• improving primary banker status;
• growing non-interest income (NIR) across all products;
• focusing on the public sector;
• delivering worldclass transactional banking solutions;
• client value management;
• collaboration and cross-selling across Nedbank clusters and with Old Mutual to support service excellence;
• expanding selectively in Africa, including leveraging the Ecobank alliance;
• positioning itself to be a truly SA bank; and
• continuing its focus on transformation in terms of both people and business strategies.

• Strong market share in other private sector loans (excluding foreign currency loans).
• Largest property finance market share among banks in South Africa.
• Top Crossborder and Domestic Custodian of the Year for Southern Africa rating by Global Custodian.
• • Best Subcustodian Bank – Africa and South Africa rating at the Global Finance Awards.
• The first four-star rating from the Green Building Council.

• Business showed resilience by achieving good results with improvement in the core financial metrics.
• Managing for value and selective lending principles were adopted by all client-facing businesses within the extremely challenging business environment.
• Impairments well-managed in a difficult environment.
• Commenced with client migration onto the enhanced electronic transactional banking platform.
• Successful transition of the management and leadership team.
• Transformation targets achieved with added focus on business transformation.
• Enhanced traction on public sector business.
• Successfully achieved all Financial Sector Charter objectives with particular focus on affordable housing.

• environment spawned by the global financial and economic crisis.
• Local recessionary environment impacted client business activities negatively.

• Challenging environment continuing with modest advances growth.
• Continued pressure on property-related returns.
• Slowing Government infrastructure programme rollout driven by lower revenue collection and high deficit levels.
• Expected enhancement of business and consumer confidence by the 2010 FIFA World Cup prospects.
• Full rollout of transactional banking platforms to Corporate client base.

Nedbank Retail serves the financial needs of individuals and small businesses up to R7,5 million turnover by providing transactional, card, lending and investment products and services. The Nedbank Retail cluster also services merchants and large corporates in respect of card-acquiring services.

• Retail Banking Services,
• Retail Small Business Services,
• Nedbank Secured Lending (Home Loans and Vehicle Asset Finance),
• Nedbank Personal Loans,
• Nedbank Card,
• Nedbank Private Bank and
• Personal Banking and Client Value Management

• growing NIR by focusing on primary clients, reducing client attrition, making quality sales and cross-selling into our existing client base, especially the lending portfolios;
• fixing EP-negative businesses by defining the appropriate risk appetite and improving the risk management capability of the lending businesses, particularly home loans;
• developing a client segmentation strategy in line with the size of EP pools that also enhances the client experience through reengineering priority processes while optimising technology investments; and
• optimising and expanding our footprint, particularly in the mass-market areas to realise our vision to be a bank for all South Africans. Consideration will be given to low-cost physical channels with quicker payback periods and innovative mobile technology.

• 17,1% home loans market share.
• 7,2% (Nedbank only) and 29,2% including Imperial Bank vehicle and asset finance retail market share.
• 13,3% card-issuing market share; 25% cardacquiring market share.
• 35,7% Mzansi market share.
• • 14,4% personal loans market share.
• 21,0% individual deposit market share.
• Client Management Assessment Tool™ score in the top decile of global banks.

• Continued emphasis placed on becoming a bank for all South Africans, with further innovation in distribution and impactful delivery of the Nedbank Cup.
• Opened the state-of-the-art client contact centre in Sugar Mill, the home of great conversations with Nedbank.
• Nedbank card and personal loans fared well.
• Retail network and product offering became an important generator of new business for Nedbank Wealth.

• Tough economic conditions and high levels of consumer indebtedness testing effectiveness of lending decisions, riskbased pricing and collection strategies implemented prior to the cycle turning with, high impairments reflecting the consequences of these practices, especially in the home loans business.
• Lower-than-expected sales volumes.
• Increased fraud levels.
• Debt counselling process an industry concern.

• Consumer indebtedness remains high and economic recovery is fragile, which means defaulted clients will take longer to cure.
• Impairments remaining well above the preferred risk appetite and proposed new target ranges.
• Continuing to emphasize risk management improvement, with more complex collections requiring a client view.
• Undertaking a detailed review of Retail to guide strategic choices that will align risk appetite, differentiators and strategy to generate sustainable EP through the cycle.

• Bancassurance;
• Asset management (local and international);
• Wealth Management Africa; and
• Wealth Management Europe and the Middle East.

• aligning and integrating the businesses to a single high-net-worth strategy;
• designing and executing a single advice and client value proposition;
• working with Business Banking and Retail to develop a strategy for the professional segment that could incorporate Imperial Professional Finance into Nedbank Wealth;
• consolidating the four asset management operations into a single asset management division focused on best-of-breed, solutions and active management;
• increasing the product range of shortterm and life assurance products, which will include significant focus on growing short-term offerings selectively beyond homeowner’s insurance into personal accident, warranty and topup cover. In addition, we intend expanding the life assurance product range beyond credit and simple life products; and
• cross-selling into the existing Nedbank Wealth as well as the Nedbank and Imperial Bank client bases.

• Fairbairn Private Bank voted Best International Wealth Manager 2009.
• BoE Private Clients rated No 1 for Service and Advice in an independent survey conducted by SMRC Marketing Solutions (Pty) Limited.

• Old Mutual joint-venture buyout.
• Lifting of product restrictions.
• Nedbank Wealth structural changes.
• Setting of new vision and 2010 strategy.
• Strong growth in Bancassurance and Asset Management Divisions.

• Weak domestic demand and challenging retail sales conditions.
• High lapses and claims.
• Impairments impacting our Wealth businesses.
• Pressure on margins, particularly in the UK environment of low interest rates.

• Slow easing of consumer pressure through 2010, with sluggish recoveries across most industries. Better growth opportunities in 2010 than in previous year.