Nedbank has revised its growth outlook for 2025 to 1, down from its earlier, more optimistic outlook of a 1.5 increase in GDP. This came out of a discussion with the banks Chief Executive, Jason Quinn, who was answering questions on the companys interim results released on Tuesday.
For the six months ended June 2025, the bank reported revenue up 4 to R36.4 billion, with diluted headline earnings per share increasing by 7 on the year prior.
The bank has characterised the first half of the year as challenging but appeared optimistic about consumer finances for the balance of the year.
Nedbank has reported that deposits at the bank increased by 10 in the period under review, while it saw lending up 6, adding that it managed to gain some market share in the area of home and vehicle loans.
The lender notes that its credit losses came down substantially, seeing the consumer with a more positive view.