Nedbank Reports Flat Half-Year Earnings of 8.4 Billion Rand

Nedbank Group reported headline earnings of 8.4 billion rand ($509 million) for the six months ending June 30, 2026. The result remained largely flat compared to the 8.3 billion rand reported during the same period the previous year.

The lender outperformed its initial expectations by leveraging income growth to offset a significant rise in impairment charges. Net interest income grew 4 percent to 22 billion rand, while non-interest income increased 10 percent to 16.2 billion rand, driven by insurance activity and fees and commissions.

Despite these gains, the bank faced a 26 percent climb in impairment charges, which reached 4.8 billion rand. This contributed to a credit loss ratio increase from 81 basis points to 95 basis points. Following the results, the group announced an interim dividend of 10.52 rand per share.