Annual Results for the year ended 31 December 2023

All 2023 targets met – a strong foundation from which we shift focus to deliver on our medium-term targets.

While we were pleased to have achieved all our 2023 targets while operating in a more difficult economic environment, we aspire to deliver ongoing improvements in ROE to increase shareholder value. Our strong financial performance in 2023, together with the progress made in executing on
our strategy and underlying momentum in the business, gives us confidence in delivering on our medium-term targets* and, in particular, our aim to increase our ROE to 17% by 2025 and above 18% in the long term.

Mike Brown – Chief Executive

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Nedbank Group is one of South Africa’s four largest banks, with Nedbank Limited as their principal banking subsidiary.

They offer the following solutions through their frontline clusters, Nedbank Corporate and Investment Banking, Nedbank Retail and Business Banking, Nedbank Wealth and Nedbank Africa Regions: 
– a wide range of wholesale and retain banking services
– a growing insurance

www.nedbankgroup.co.za