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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
Nedbank Group
Nedbank Group (NED) investor relations material
Nedbank Group H1 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.H1 2026 earnings summary4 Aug, 2026
Executive summary
Strong operational performance in H1 2026, with PPOP up 8% (15% excluding ETI), DHEPS up 2% (15% excluding ETI), and ROE at 15.0%, supported by a robust balance sheet and CET1 ratio of 12.6%.
Interim dividend declared at 1,052 cents per share, payout ratio of 57%.
NCBA acquisition on track, securing a 66% stake to expand in East Africa, with regulatory approvals progressing.
Strategic execution included integration of iKhokha and Eqstra, driving new business momentum and revenue.
Technology and AI investments are driving operational efficiency, digital adoption, and enhanced client experiences.
Financial highlights
Net interest income up 4% to R22.0bn, non-interest revenue up 10% to R16.2bn, and disciplined expense growth at 3%.
Pre-provision operating profit increased by 8% year-over-year, and by 15% excluding ETI base effects.
Gross banking advances and deposits both grew by 7% year-on-year.
Cost-to-income ratio improved to 56.2%.
Credit loss ratio increased to 95 bps, mainly due to higher impairments in PPB.
Outlook and guidance
NII growth expected slightly above mid-single digits, with NIR growth in upper single digits.
Credit loss ratio guidance revised upward to mid-80 bps for the full year, with improvement expected in H2.
Expense growth to remain below mid-single digits, with continued focus on productivity.
ROE target remains above 15% for 2026, with medium-term ambition of 17% by 2028 and cost-income ratio of 54%.
Dividend cover to remain within the 1.75–2.25x board-approved range.
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Latest events from Nedbank Group
- AGM confirmed robust financials, new board appointments, and all resolutions passed.NED
AGM 2025 - Financial performance in early 2026 met expectations, with NCBA deal completion targeted for late 2026.NEDTrading update
- Earnings and ROE were strong, with strategic deals and digital gains driving future growth.NEDH2 2025
- Strong retail growth and strategic actions offset CIB delays, supporting a positive outlook.NEDTrading Update
- Earnings up 6%, ROE at 15.2%, ETI held for sale, and 2025 guidance lowered amid macro challenges.NEDH1 2025
- Headline earnings up 8% to R7.9bn, ROE at 15%, and digital-led growth supports resilience.NEDH1 2024
- HEPS up 11%, headline earnings up 8%, and ROE at 15.8% with strong NIR and digital growth.NEDH2 2024
Next Nedbank Group earnings date
Trading update1 Dec, 2026
Nedbank Group
Next Nedbank Group earnings date
Trading update1 Dec, 2026
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Frequently asked questions
Nedbank Group Limited is a financial institution in South Africa and one of the country's four largest banks. As a bank holding company, its principal subsidiary is Nedbank Limited. Nedbank Group offers a comprehensive range of financial services, including wholesale and retail banking services, insurance, asset management, and wealth management. The group serves its customers through domestic outlets and branches, alongside a network of ATMs, facilitating wide-reaching access to banking and financial services across the region. The company is headquartered in Johannesburg, South Africa, and its shares are listed on the JSE.