Geographical segmental reporting

for the year ended 31 December

		Nedbank Group		South Africa		Rest of Africa		Rest of world
			Restated		Restated		Restated		Restated
		2005	2004	2005	2004	2005	2004	2005	2004
		Rm	Rm	Rm	Rm	Rm	Rm	Rm	Rm
Income statement
Net interest income		8 529	7 145	7 958	6 558	328	301	243	286
Impairment charge on loans and advances		1 189	1 217	1 190	1 155	15	34	(16)	28
Income from lending activities		7 340	5 928	6 768	5 403	313	267	259	258
Non-interest revenue		8 483	8 379	7 940	7 724	199	37	344	618
Foreign currency translation gains/(losses)		126	(280)	126	(280)
Operating income		15 949	14 027	14 834	12 847	512	304	603	876
Total operating expenses		11 157	10 939	10 423	9 992	326	282	408	665
	Operating expenses	10 609	10 314	9 909	9 405	326	280	374	629
	Merger and recovery programme expenses	155	625	121	587		2	34	36
	BEE transaction expenses	393		393
Indirect taxation		223	470	216	464	3	1	4	5
Profit from operations		4 569	2 618	4 195	2 391	183	21	191	206
Share of profits of associates and joint ventures		167	147	122	91	45	56
Profit before direct taxation		4 736	2 765	4 317	2 482	228	77	191	206
Direct taxation		1 108	668	1 020	641	62	22	26	5
Profit after taxation		3 628	2 097	3 297	1 841	166	55	165	201
Minority interest income attributable to ordinary shareholders		233	125	185	105	31	10	17	10
Minority interest income attributable to preference shareholders		228	229	228	229
Headline earnings		3 167	1 743	2 884	1 507	135	45	148	191