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NED/NBKP - Nedbank Group/Nedbank Limited - Quarterly report on Basel II capital adequacy NEDBANK GROUP LIMITED (Incorporated in the Republic of South Africa) Registration number: 1966/010630/06 JSE share code: NED NSX share code: NBK ISIN: ZAE000004875 ("Nedbank Group" or "the group") NEDBANK LIMITED (Incorporated in the Republic of South Africa) Registration number: 1951/000009/06 JSE share code: NBKP ISIN: ZAE000043667 ("Nedbank Limited" or "the bank") QUARTERLY REPORT ON BASEL II CAPITAL ADEQUACY Quarterly Report in terms of Regulation 43(1)(e)(ii) of the Banks Act 94 of 1990 (as amended) ("the Regulation"). Certain of the information required to be disclosed in terms of the Regulation is included in Nedbank Group`s trading update for the nine month period to 30 September 2011. The group`s capital ratios remained well above current Basel II and anticipated Basel III minimum regulatory requirements, as well as our internal targets. The Core Tier 1 ratio strengthened marginally to 10,8% at 30 September 2011 (June 2011: 10,7%) as a result of profitability and reasonably low growth in risk weighted assets during the quarter, and the payment of the interim ordinary dividend in September 2011. In addition, the group`s Tier 1 capital adequacy ratio at 12,5% (June 2011: 12,4%) and total capital adequacy ratio at 15,3% (June 2011: 15,2%) remain strong. The following table sets out the available capital as at 30 September 2011: Nedbank Group Nedbank Limited
Rm % Rm % Tier 1 capital (Primary) 40 328 12,5% 35 225 12,4% Share capital and reserves 46 754 34 504 Minority interest: ordinary shareholders 157 - Minority interest: preference shareholders 3 560 3 560 Hybrid debt capital 1 752 1 752 Impairments (2 591) (2 376) Goodwill (4 996) (1 410) Excess of expected loss over eligible provisions (50%) ( 689) ( 729)
Other regulatory differences and non- qualifying reserves (3 619) ( 76)
Tier 2 capital (Secondary) 9 126 2,8% 9 498 3,3% Long-term liabilities 9 502 9 499 Excess of expected loss over eligible provisions (50%) ( 689) ( 729)
General allowance for credit impairment 417 377
Other regulatory differences (104) 351
Total 49 454 15,3% 44 723 15,7% Minimum required capital and reserve funds 30 749 27 084 Notes: 1. The figures above have not been audited. 2. Available capital includes unappropriated profits to the extent that they are not expected to reverse. 3. Minimum required capital and reserve funds have been reported at 9,5%, in terms of Directive 05/2011 issued in terms of section 6(4) of the Banks Act, 1990. 4. Regulation requires details of any risk exposure or other item that is subject to rapid or material change. These are detailed in the trading update released on 2 November 2011. Sandton 3 November 2011 Sponsors to Nedbank Group in South Africa: Merrill Lynch South Africa (Pty) Limited Nedbank Capital Sponsor to Nedbank Group in Namibia: Old Mutual Investment Services (Namibia) (Pty) Ltd Sponsors to Nedbank Limited in South Africa: Nedbank Capital Investec Bank Limited Date: 03/11/2011 08:01:20 Supplied by www.sharenet.co.za Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.
