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NED NBKP
NED NBKP
NED / NBKP - Nedbank Group/ Nedbank Limited - Quarterly report on basel II
capital adequacy
NEDBANK GROUP LIMITED
(Incorporated in the Republic of South Africa)
Registration number: 1966/010630/06
JSE share code: NED
NSX share code: NBK
ISIN: ZAE000004875
("Nedbank Group" or "the group")
NEDBANK LIMITED
(Incorporated in the Republic of South Africa)
Registration number: 1951/000009/06
JSE share code: NBKP
ISIN: ZAE000043667
("Nedbank Limited" or "the bank")
QUARTERLY REPORT ON BASEL II CAPITAL ADEQUACY
Quarterly Report in terms of Regulation 43(1)(e)(ii) of the Banks Act 94 of 1990
(as amended)("the Regulation").
Certain of the information required to be disclosed in terms of the Regulation
is included in Nedbank Group`s trading update for the nine month period to 30
September 2009 (issued on 5 November 2009) and the additional capital adequacy
information given below should be read in conjunction with that trading update.
The group`s Tier 1 capital adequacy ratio improved from 10,0% at 30 June 2009 to
10.7% at 30 September 2009 while the total capital adequacy increased from 13,2%
to 14.0% over the same period. The ratios have improved significantly as a
result of prudent risk weighted asset optimisation initiatives as part of the
group`s "manage for value" emphasis during the quarter, as well as a Preference
Share issue of R153 million in September.
The following table sets out the available capital as at 30 September 2009:
Nedbank Group Nedbank Limited
Rm % Rm %
Tier 1 capital (Primary) 36 220 10,7% 28 065 10,8%
Share capital and
reserves 38 284 28 914
Minority interest:
ordinary shareholders 1 737 -
Minority interest:
preference
shareholders 3 480 3 275
Hybrid debt capital 1 752 1 752
Impairments (7) (3 303)
Goodwill (5 009) (1 126)
Unappropriated profits (258) (258)
Excess of expected
loss over eligible
provisions (50%) (663) (663)
Other regulatory
differences and non-
qualifying reserves (3 096) (526)
Tier 2 capital
(Secondary) 10 970 3,3% 10 246 3,9%
Long-term liabilities 11 500 10 848
Excess of expected
loss over eligible
provisions (50%) (663) (663)
General allowance for
credit impairment 228 -
Other regulatory
differences (95) 61
Tier 3 capital (Tertiary) - - - -
Total 47 190 14,0% 38 311 14,7%
Minimum required 32 909 25 394
capital and reserve
funds
Notes:
1. The figures above have not been audited.
2. Available capital includes unappropriated profits to the extent that they are
not expected to reverse
3. These numbers do not include the effect of capital floors for the bank, in
terms of Directive 1/2009 issued in terms of section 6(6) of the Banks Act,
1990, which will fall away by 31 December 2011
4. Nedbank Limited issued R153 million of Preference Shares during the quarter
5. The impacts of the RWA optimisation initiatives are starting to bear fruit as
evidenced by the improved ratios
In addition, the Regulation requires details of any risk exposure or other item
that is subject to rapid or material change. These are detailed in the trading
update released on 5 November 2009.
Sandton
5 November 2009
For further information contact
Tier 1 Investor Relations
Tel: +27 (0)21 702-3102
Sponsors to Nedbank Group in South Africa:
Merrill Lynch South Africa (Pty) Limited
Nedbank Capital
Sponsor to Nedbank Group in Namibia:
Old Mutual Investment Services (Namibia) (Pty) Ltd
Sponsors to Nedbank Limited in South Africa:
Nedbank Capital
Investec Bank Limited
Date: 05/11/2009 08:31:01 Produced by the JSE SENS Department.
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