|Nedbank's history traces back to the early 19th century with the establishment of the Cape of Good Hope Bank in 1831. Following successive branding and structural changes, from The Nederlandsche Bank voor Zuid-Africa to the Netherlands Bank of South Africa (NBSA), to Nedcor Group in the 1980s and in 2003 Nedbank Group was formed following the merger of Nedcor and BoE the year before. Today we are proud to be one of the most transformed banks in South Africa.
Nedbank Group is vision led and values driven. Our vision is to be Africa's most admired bank by all our stakeholders - our staff, clients, shareholders, regulators and the communities that we live in and this is driven by our values of Accountability, Integrity, Respect, Pushing beyond boundaries and being People-centred. Our growth is driven by delivering on our five strategic focus areas include:
- Client-centred innovation is about developing solutions (products, services or processes) to address specific client needs, to create value for our clients or to enable a better overall client experience.
- Grow our transactional banking franchise and increase the number of main-banked clients and volumes and as a result; transactional revenue and deposits, which consume less capital and are supportive of increasing our return on equity.
- Optimise and invest to ensure that we invest sustainably in the franchise to unlock future growth opportunities, while managing our cost base by unlocking synergies and efficiencies.
- Strategic portfolio tilt aims to manage our portfolio of businesses and products proactively to improve our risk and return profile and to identify financial services opportunities that maximise economic profit (EP) growth while maintaining a fortress balance sheet.
- Pan-African banking network representing a client-focused, risk-mitigated, capital efficient growth lever for the medium to long term. In the Southern African Development Community (SADC) and East Africa we have increased our presence with an initial acquisition of 36,6% in Banco ?nico in Mozambique in 2014, increasing our network in SADC and East Africa to six countries. Together with our shareholding of approximately 20% Ecobank, a key player in West and Central Africa, we provide our clients with access to the largest pan-African banking network of 39 countries.