Seven-year review

Statistics and ratios

SHARE STATISTICS

Six-year CAGR* %

2010

2009

2008

2007

2006

2005

2004

ECONOMIC

Earnings per share

Headline

cents

14, 8

1 104

1 010

1 422

1 485

1 110

797

483

Diluted headline

cents

14,2

1 069

983

1 401

1 429

1 076

791

482

Basic

cents

17,0

1 084

1 140

1 581

1 511

1 135

966

423

Diluted basic

cents

16,4

1 050

1 109

1 558

1 454

1 099

958

422

Dividends/Distributions

Declared per share

cents

26,0

480

440

620

660

493

290

120

Paid/capitalised per share

cents

33,2

442

520

660

594

394

181

Dividend/Distribution cover

(8,8)

2,30

2,30

2,29

2,25

2,75

4,00

Net asset value per share

cents

15,3

9 831

9 100

8 522

7 513

6 363

5 597

4 654

Tangible net asset value per share

cents

15,9

8 160

7 398

7 179

6 207

5 106

4 351

3 361

Gross number in issue

515

499

469

459

451

443

394

Treasury shares

(66)

(63)

(59)

(57)

(56)

(41)

Net number in issue

449

436

410

402

395

402

394

Weighted average number

444

423

405

399

400

397

361

Fully diluted weighted average

458

435

412

414

412

400

362

SHARE PRICE AND RELATED STATISTICS

ECONOMIC

Nedbank Group traded price

Closing

cents

13 035

12 405

9 550

13 600

13 350

10 000

7 780

High

cents

15 000

12 900

13 975

15 810

13 950

10 280

7 999

Low

cents

11 725

6 492

7 498

12 325

9 790

6 700

5 240

JSE Banks Index – closing

40 985

36 675

30 566

35 876

36 121

29 234

22 975

JSE All-share Index – closing

32 119

27 666

21 509

28 958

24 915

18 097

12 657

Market capitalisation

Rbn

67,1

61,9

44,8

62,5

60,2

44,3

30,7

Number of shares traded

265,2

272,7

305,4

232,2

191,7

168,1

245,8

Number traded to weighted average number of shares

59,7

64,5

75,4

58,2

48,0

42,3

68,1

Value of shares traded

35 379

27 512

31 237

31 954

22 219

13 709

15 345

Value traded to market capitalisation

52,7

44,5

69,8

51,1

36,9

31,0

50,0

Price/Earnings ratio

historical

Price to book

times

1,3

1,4

1,1

1,8

2,1

1,8

1,7

Dividend yield

3,7

3,5

6,5

4,9

3,7

2,9

1,5

Earnings yield

8,5

8,1

14,9

10,9

8,3

8,0

6,2

Closing price/Tangible net asset value

times

1,6

1,7

1,3

2,2

2,6

2,3

PERFORMANCE RATIOS

ECONOMIC

Net interest income to interest-earning banking assets

3,35

3,39

3,66

3,94

3,55

3,18

Non-interest revenue to total income

44,3

42,2

39,9

42,5

46,3

49,8

53,1

Credit loss ratio – banking advances**

1,36

1,52

1,17

0,62

0,52

0,49

0,55

Non-interest revenue to total operating expenses

79,6

78,8

78,1

77,4

79,7

76,9

74,0

Efficiency ratio

Including black economic empowerment

(BEE) transaction expense**

55,7

53,5

51,1

54,9

58,2

64,8

71,8

Excluding BEE transaction expense**

55,2

53,1

50,4

54,2

57,5

62,5

71,8

Expenses to average assets

2,81

2,65

2,60

2,95

3,06

3,24

3,41

Effective taxation rate

20,7

20,2

21,6

26,3

27,8

23,4

24,2

Return on total assets**

0,82

0,76

1,09

1,30

1,14

0,93

0,54

Return on risk-weighted assets

1,51

1,31

1,62

1,76

1,60

1,40

0,82

Return on equity (excluding goodwill)**

13,4

13,4

20,1

24,8

22,1

18,9

14,4

Return on equity**

11,8

11,8

17,7

21,4

18,6

15,5

11,0

ASSETS AND RELATED RATIOS

2010

2009

2008

2007

2006

2005

2004

ECONOMIC

Advances

Performing advances

13,1

459 734

433 054

424 791

370 125

306 004

249 318

220 202

Defaulted/Impaired loans and advances***

26 765

27 045

17 301

9 909

7 743

4 304

7 490

Gross advances

13,5

486 499

460 099

442 092

380 034

313 747

253 622

227 692

Impairment of advances

(11 226)

(9 798)

(7 859)

(6 078)

(5 184)

(5 214)

(6 684)

Net advances

475 273

450 301

434 233

373 956

308 563

248 408

221 008

Non-performing assets to gross advances

5,5

5,9

3,9

2,6

2,5

1,7

3,3

Impairment of advances to gross advances

2,3

2,1

1,8

1,6

1,7

2,1

2,9

Assets

Total assets on statement of financial position

10,9

608 718

570 703

567 023

488 856

424 912

352 258

327 840

Assets under management⁺

102 570

87 204

84 381

85 438

86 212

63 925

60 369

Total assets administered by the group

10,6

711 288

657 907

651 404

574 294

511 124

416 183

388 209

CAPITAL AND RELATED RATIOS

ECONOMIC

Total equity attributable to equity holders

of the parent

15,7

44 101

39 649

34 913

30 193

25 116

22 490

18 337

Regulatory capital****

Tier 1

36 861

36 627

33 967

26 611

22 932

21 151

17 274

Total qualifying capital

47 372

47 538

44 120

37 421

32 683

29 099

25 663

Risk-weighted assets****

323 437

326 466

355 235

334 876

276 914

225 756

212 459

Group capital adequacy ratio****

Core Tier 1

10,1

9,9

8,2

7,2

Tier 1

11,7

11,5

9,6

8,2

8,3

9,4

8,1

Total

15,0

14,9

12,4

11,4

11,8

12,9

12,1

ENVIRONMENTAL

Electricity consumption⁺⁺	kWh	83 341 027	95 546 670	98 710 927	100 580 577
Water consumption⁺⁺	kl	263 876	276 481^#	373 935	445 459
Waste reduction: Landfill⁺⁺	tonnes	497	552	674	774
Total recycled materials⁺⁺	tonnes	500	455	419	396
Paper consumption⁺⁺⁺	tonnes	1 917	1 932	1 928	2 019
Total carbon emissions	tonnes	213 428	213 081	135 469	129 946

SOCIAL

Corporate social investment (CSI) spend

70,2

68,3

38,0

37,1

36,2

40,5

Socioeconomic development spend

79,9

72,6

66,9

45,3

Overall BEE spend ratio

85,1

83,4

62,0

48,1

46,0

34,9

CULTURAL

Number of employees

27 525

27 037

27 570

26 522

24 034

22 188

21 103

Revenue per employee

R’000

859

798

801

846

788

713

665

Expenses per employee

R’000

603

558

498

509

495

497

518

Headline earnings per employee

R’000

178

158

209

223

185

143

Training and skills development spend

% of payroll

3,6

4,3

4,1

2,0

2,7

2,3

Compliance to Occupational Health and Safety (OHS) Programme

Above 95

Above 95

93,6

91,2

94,3

Above 95


*	Compound annual growth rate.
**	2010 and 2009 are calculated using a daily-average denominator. 2008 and prior are calculated using a simple-average denominator.
***	The amounts for 2007 to 2010 represent defaulted advances, while those for 2004 to 2006 represent impaired advances.
****	Ratios and balances for 2007 to 2010 were calculated according to Basel II principles, while ratios and balances for prior years were calculated according to Basel I principles.
+	Restated for 2009 and 2008.
++	Campus sites only.
+++	Previously reported only campus site usage. Reporting now includes total consumption across the group. 2010 number also includes Imperial staff members.
#	2009 figure was 310 210 kl. This has been restated to remove the water used during the construction of the Phase 2 building.
##	Less than R1 million.

NEDBANK GROUP LIMITED SEVEN-YEAR FINANCIAL REVIEW – STATEMENT OF COMPREHENSIVE INCOME

Rm	Six-year CAGR* %	2010	2009	2008	2007	2006	2005	2004

Interest and similar income	11,7	44 377	50 537	57 986	42 001	28 521	23 234	22 789
Interest expense and similar charges	10,0	27 769	34 231	41 816	27 855	17 558	14 705	15 644
Net interest income	15,1	16 608	16 306	16 170	14 146	10 963	8 529	7 145
Impairments charge on loans and advances	31,1	6 188	6 634	4 822	2 164	1 483	1 189	1 217
Income from lending activities	9,9	10 420	9 672	11 348	11 982	9 480	7 340	5 928
Non-interest revenue	8,5	13 215	11 906	10 729	10 446	9 468	8 469	8 099
Operating income	9,1	23 635	21 578	22 077	22 428	18 948	15 809	14 027
Total operating expenses	7,2	16 598	15 100	13 741	13 489	11 886	11 017	10 939
Operating expenses	8,1	16 450	14 974	13 547	13 341	11 740	10 469	10 314
Merger and recovery programme expenses							155	625
Black economic empowerment transaction expenses		148	126	194	148	146	393
Indirect taxation	(0,8)	447	438	374	305	345	223	470
Profit from operations before non-trading
and capital items	16,6	6 590	6 040	7 962	8 634	6 717	4 569	2 618
Non-trading and capital items		(91)	624	756	111	124	701	(254)
Profit from operations	18,4	6 499	6 664	8 718	8 745	6 841	5 270	2 364
Share of profits of associates and joint ventures	(56,5)	1	55	154	239	153	167	147
Profit before direct taxation	17,2	6 500	6 719	8 872	8 984	6 994	5 437	2 511
Direct taxation	13,8	1 364	1 307	1 868	2 343	1 933	1 140	629
Profit for the year	18,2	5 136	5 412	7 004	6 641	5 061	4 297	1 882
Profit attributable to:
Equity holders of the parent	21,1	4 811	4 826	6 410	6 025	4 533	3 836	1 528
Non-controlling interest – ordinary shareholders	(11,8)	59	242	257	344	309	233	125
– preference shareholders	2,5	266	344	337	272	219	228	229
	18,2	5 136	5 412	7 004	6 641	5 061	4 297	1 882
Headline earnings	18,8	4 900	4 277	5 765	5 921	4 435	3 167	1 743
* Compound annual growth rate.

NEDBANK GROUP LIMITED SEVEN-YEAR FINANCIAL REVIEW – STATEMENT OF FINANCIAL POSITION

Rm	Six-year CAGR* %	2010	2009	2008	2007	2006	2005	2004
ASSETS
Cash and cash equivalents	11,0	8 650	7 867	8 609	10 344	12 267	11 142	4 630
Other short-term securities	8,8	27 044	18 550	18 589	25 793	25 756	17 014	16 310
Derivative financial instruments	(10,6)	13 882	12 710	22 321	9 047	15 273	16 176	27 276
Government and other securities	3,3	31 824	35 983	42 138	29 637	22 196	22 658	26 224
Loans and advances	13,6	475 273	450 301	434 233	373 956	308 563	248 408	221 008
Other assets	5,9	10 014	5 455	6 084	9 313	12 468	11 601	7 101
Clients’ indebtedness for acceptances	4,4	1 953	2 031	3 024	2 251	2 577	1 291	1 509
Current taxation receivable	16,2	483	602	346	59	161	134	196
Investment securities	10,5	11 918	11 025	8 455	8 318	7 155	6 875	6 561
Non-current assets held for sale	(31,4)	5	12	10	31	490	385	48
Investments in associate companies and joint ventures	(1,4)	936	924	1 167	978	907	657	1 019
Deferred taxation asset	(22,0)	284	282	200	25	120	680	1 258
Investment property	2,3	199	211	213	171	158	163	174
Property and equipment	12,1	5 612	4 967	4 327	3 929	3 377	3 095	2 828
Long-term employee benefit assets	9,6	2 052	1 860	1 741	1 393	1 444	1 225	1 183
Mandatory reserve deposits with central bank	12,7	11 095	10 508	10 065	8 364	7 039	5 747	5 420
Intangible assets	6,6	7 494	7 415	5 501	5 247	4 961	5 007	5 095
Total assets	10,9	608 718	570 703	567 023	488 856	424 912	352 258	327 840
EQUITY AND LIABILITIES
Ordinary share capital	2,2	449	436	410	402	395	402	394
Ordinary share premium	7,8	15 522	13 728	11 370	10 721	9 727	10 465	9 892
Reserves	23,2	28 130	25 485	23 133	19 070	14 994	11 623	8 051
Total equity attributable to equity holders of the parent	15,7	44 101	39 649	34 913	30 193	25 116	22 490	18 337
Non-controlling interest attributable to:
– ordinary shareholders	(22,0)	153	1 849	1 881	1 511	1 202	1 049	680
– preference shareholders	4,3	3 560	3 486	3 279	3 421	3 070	2 770	2 770
Total equity	14,0	47 814	44 984	40 073	35 125	29 388	26 309	21 787
Derivative financial instruments	(13,0)	12 052	11 551	23 737	11 432	12 904	17 055	27 781
Amounts owed to depositors	11,8	490 440	469 355	466 890	384 541	324 685	261 311	250 747
Provisions and other liabilities	5,6	18 245	11 252	9 829	34 225	37 847	32 357	13 153
Liabilities under acceptances	4,4	1 953	2 031	3 024	2 251	2 577	1 291	1 509
Current taxation liabilities	(0,2)	191	315	235	337	434	466	193
Other liabilities held for sale						417
Deferred taxation liabilities	7,9	1 804	1 945	2 100	1 616	1 649	959	1 143
Long-term employee benefit liabilities	4,1	1 414	1 304	1 231	1 157	1 215	1 071	1 109
Investment contract liabilities	15,3	7 309	6 749	5 843	5 846	5 278	4 166	3 109
Insurance contract liabilities		1 392	1 133
Long-term debt instruments	23,6	26 104	20 084	14 061	12 326	8 518	7 273	7 309
Total liabilities	10,6	560 904	525 719	526 950	453 731	395 524	325 949	306 053
Total equity and liabilities	10,9	608 718	570 703	567 023	488 856	424 912	352 258	327 840
Guarantees on behalf of clients	18,4	29 614	28 161	25 226	20 579	15 250	11 064	10 770
* Compound annual growth rate.



This page was updated on 30 March, 2011	Return to top