Nedbank Group (NED) AGM 2025 summary

Opening remarks and agenda

• The Chairperson welcomed shareholders, guests, and staff, confirmed quorum, and outlined voting procedures for both in-person and online participants.

• Voting was conducted electronically and by poll, with clear instructions provided for both physical and virtual attendees.

Financial performance review

• Headline earnings rose 8% to ZAR 16.9 billion, with ROE improving to 15.8% and diluted HEPS up 11%.

• Share price increased by 30% in 2024, outperforming the sector index, and total dividend declared rose by 10%.

• The group maintained a strong balance sheet and disciplined risk management amid challenging macroeconomic conditions.

Board and executive committee updates

• New board appointments included Terence Nombembe, May Hermanus, Mary Bomela, and Oliver Fortuin, enhancing governance and diversity.

• Jason Quinn was appointed CEO after a rigorous process, ensuring leadership continuity.

• Leadership succession and planning, as well as key executive changes, were highlighted.