African and international operations
Introduction
 Introduction |
| Nednamibia Holdings Limited |
| Nedbank Swaziland Limited |
| Nedbank Lesotho Limited |
| MBCA Bank Zimbabwe |
| Nedbank Malawi Limited |
| Channel Islands |
| Nedbank London |
During 2007 Nedbank Group continued to show its commitment to sustainability, good governance and transparency in all the African and other international jurisdictions in which it operates. Subject to local legislative requirements, Nedbank Group policies are adopted by the subsidiaries to ensure consistent groupwide implementation and standards. Similarly board and committee structures are, where practical, aligned to the Nedbank Group Board structures.
Operational statistics (Dec 2007)
| Namibia | Swaziland | Lesotho | Zimbabwe | Malawi | Headoffice | Total | |
| Branches | 20 | 7 | 6 | 5 | 2 | 40 | |
| Offices/ | |||||||
| Agencies | 2 | 1 | 2 | 0 | 0 | 5 | |
| ATMs | 33 | 7 | 10 | 6 | 2 | 58 | |
| Total staff | 688 | 226 | 190 | 352 | 79 | 45 | 1 580 |
Issues and challenges
- The Nedbank Group continues to strive for alignment to and compliance with all processes, policies, structures and reporting as per group standards, statutory requirements and IFRS.
- In keeping with Nedbank's commitment to improve the skills of its staff the implementation of a formal training intervention for all operational staff in all the subsidiaries remains a priority. In addition, a programme for the rotation of staff will further ensure that the skills base of staff in the subsidiaries is constantly improved.
- To attain efficiencies and improve client service there is a need for the development and implementation of a standardised IT infrastructure and banking application across all African countries, including the reengineering of a set of standardised and aligned policies and procedures across all businesses.
Africa outlook and priorities 2008
- Improving of the profitability of all Nedbank's subsidiaries in the forthcoming year by increasing its distribution/footprint, increasing penetration, increasing share of wallet per client, product cross-sell and margins.
- Ongoing monitoring of progress with 'The Standardised Approach' in all the subsidiaries to fully embrace Basel II.
- Investigations are well underway in looking at the most appropriate opportunities for expansion further into Africa.
| This page was updated on 29 April, 2008 |  Return to top |
For Nedbank products, services and branch details please visit www.nedbank.co.za.