Over the first six months of the current year, South African Nedbank saw its results jump from 15.7% reaching 3.5 billion Rand (South African currency), far more than analysts predictions.
This result is reinforced by the 246 million rand from its 20% in Ecobank capital. The subsidiary based in Togo had 111 million profit in the first quarter of the current year. Nedbank CEO Mike Brown believes that the rest of Africa is rising sharply in the Bank’s balance sheet.
This performance, better that expected, have earned a significant increase to Nedbank stocks; closing the trading session of august 5, 2015 with an increase of 5% of 271 rand.