| Thu 26 Feb 2009, 12:15 | | OML/OLM - Old Mutual Plc - Nedbank year end results |
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OML
OLOML
OML/OLM - Old Mutual Plc - Nedbank year end results
OLD MUTUAL PLC
ISIN CODE: GB0007389926
JSE SHARE CODE: OML
NSX SHARE CODE: OLM
ISSUER CODE: OLOML
Ref 03/09
NEDBANK YEAR END RESULTS
Nedbank, Old Mutual`s 55%-owned banking subsidiary in South Africa, today
released its 2008 year end results. These results reflect the bank`s
underlying resilience in the face of the global crisis in the financial
markets, the discipline of the banking environment in South Africa, which
remains structurally sound, and the slowdown in the domestic economy.
Particularly pleasing is the strengthening of the bank`s capital ratios.
Key features of the results included:
* Strengthened capital ratios with the total capital ratio 12.4% (December
2007: 11.4%)
* Tier 1 ratio 9.6% (2007: 8.2%)
* Diluted headline earnings per share 1401 cents (2007: 1429 cents)
* Diluted basic earnings per share 1558 cents (2007: 1454 cents)
* Net asset value grew 15.7% from 6207 cents to 7179 cents
* Liquidity remains sound
* Dividend per share: 620 cents (2007: 660 cents)
The full Nedbank 2008 year end results announcement can be found on its
website www.nedbank.co.za
Old Mutual plc will be announcing its preliminary results on 4 March 2009.
For further information on Old Mutual plc, please visit the corporate website
at www.oldmutual.com
Enquiries
Investor Relations
Aleida White UK +44 (0)20 7002 7287
Deward Serfontein SA +27 (0)82 810 5672
Media
Matthew UK +44 (0)20 7002 7133
Gregorowski
Nedbank Investor Relations and Media
Relations
Don Bowden (Tier SA + 27 (0)82 555 8721
1)
Notes to Editors
Old Mutual
Old Mutual plc is an international savings and wealth management company based
in the UK. Originating in South Africa in 1845, the group has a portfolio of
businesses offering asset management, life assurance, banking and general
insurance services in over 40 countries in Europe, the Americas, Africa and
Asia-Pacific. Old Mutual plc is listed on the London Stock Exchange and the
JSE, among others.
In the year ended 31 December 2007, the group reported adjusted operating
profit of GBP1.62 billion (on an IFRS basis) and had GBP279 billion of funds
under management at the year end. The Company has approximately 53,000
employees.
26 February 2009
Sponsor
Merrill Lynch
Date: 26/02/2009 12:15:01 Produced by the JSE SENS Department.
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