By Ukumbi Afrika Johannesburg –South Africa's Nedbank Group reported largely flat half-year earnings on Tuesday, with stronger income growth helping to offset a higher impairment charge, delivering a performance that exceeded the lender's expectations at the beginning of the year.
The bank said headline earnings for the six months ended June 30 edged up to 8.4 billion rand (about $509 million), compared with 8.3 billion rand during the same period last year.
Despite a more challenging credit environment that led to higher impairment charges, Nedbank said growth in income supported its overall financial performance during the reporting period.
The group also declared an interim dividend of 10.52 rand per share, reflecting its continued commitment to shareholder returns.
At the start of 2026, Nedbank had anticipated a tougher operating environment, but the latest results suggest the lender has remained resilient amid evolving economic conditions in South Africa.
Exchange Rate: $1 = 16.5022 South African rand.
Source: Reuters
Reporting: Nqobile Dludla
Editing: Tom Hogue