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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 2011.
The group`s capital ratios remained well above current Basel II and
anticipated Basel III minimum regulatory requirements, as well as our internal
targets. The Core Tier 1 ratio strengthened marginally to 10,8% at 30
September 2011 (June 2011: 10,7%) as a result of profitability and reasonably
low growth in risk weighted assets during the quarter, and the payment of the
interim ordinary dividend in September 2011.
In addition, the group`s Tier 1 capital adequacy ratio at 12,5% (June 2011:
12,4%) and total capital adequacy ratio at 15,3% (June 2011: 15,2%) remain
strong.
The following table sets out the available capital as at 30 September 2011:
Nedbank Group Nedbank Limited
Rm % Rm %
Tier 1 capital (Primary) 40 328 12,5% 35 225 12,4%
Share capital and reserves 46 754 34 504
Minority interest:
ordinary shareholders 157 -
Minority interest:
preference shareholders 3 560 3 560
Hybrid debt capital 1 752 1 752
Impairments (2 591) (2 376)
Goodwill (4 996) (1 410)
Excess of expected loss over eligible
provisions (50%)
( 689) ( 729)
Other regulatory differences and non-
qualifying reserves
(3 619) ( 76)
Tier 2 capital (Secondary) 9 126 2,8% 9 498 3,3%
Long-term liabilities 9 502 9 499
Excess of expected loss over eligible
provisions (50%)
( 689) ( 729)
General allowance for credit impairment
417 377
Other regulatory differences (104) 351
Total 49 454 15,3% 44 723 15,7%
Minimum required capital and reserve funds
30 749 27 084
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. Minimum required capital and reserve funds have been reported at 9,5%, in
terms of Directive 05/2011 issued in terms of section 6(4) of the Banks Act,
1990.
4. 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 2 November 2011.
Sandton
3 November 2011
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: 03/11/2011 08:01:20 Produced by the JSE SENS Department.
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