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NED NBKP
NED NBKP
NED/NBKP - Nedbank Group Limited / Nedbank Limited - Quarterly report on Pillar
III capital adequacy at 31 March 2012
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 PILLAR III CAPITAL ADEQUACY AT 31 MARCH 2012
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 three month period to 31
March 2012.
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 group implemented Basel II.5 capital criteria, most notably the 6% scaling
factor for credit RWA, with effect from 1 January 2012. In line with the pro-
forma ratio disclosed to the market, the 2011 year-end core tier 1 ratio
decreased to 10,5% (December 2011: 11,0%). Strong organic earnings and continued
RWA optimisation during the first quarter resulted in the core tier 1 ratio
strengthening to 10,7% at 31 March 2012.
In addition, the Group`s Tier 1 capital adequacy ratio declined to 12,2% (31
December 2011: 12,6%) and Total capital adequacy ratio to 14,6% (31 December
2011: 15,3%), as a result of the reasons discussed above. The Group`s Total
capital adequacy ratio was also impacted with the redemption of the R650
million, NED7 Tier 2 subordinated note that was called and not replaced in
February 2012, as a result of the Group`s strong Total capital position.
The following table sets out the available capital as at 31 March 2012:
Nedbank Group Nedbank Limited
Rm % Rm %
Primary Capital 43 650 12,2 37 783 12,1
Core Primary Capital 38 337 10,7 32 470 10,4
Share capital and premium 16 415 15 461
Reserves 34 331 21 981
Minority interest:
ordinary shareholders 185 -
Impairments (3 018) (2 679)
Goodwill (4 990) (1 410)
Excess of expected loss over ( 539) ( 622)
eligible provisions (50%)
Other regulatory differences (4 047) ( 261)
and non-qualifying reserves
Non-core Primary Capital 5 313 1,5 5 313 1,7
Preference share capital and 3 561 3 561
Premium
Hybrid debt capital 1 752 1 752
Secondary Capital 8 646 2,4 9 062 2,9
Long-term liabilities 8 853 8 850
Excess of expected loss over ( 539) ( 622)
eligible provisions (50%)
General allowance for credit 399 364
impairment
Other regulatory differences ( 67) 470
Tier 3 capital (Tertiary) - -
Total 52 296 14,6 46 845 15,1
Nedbank Group Nedbank Limited
Minimum required Pillar Pillar Total Pillar Pillar Total
capital and 1 2a 1 2a
reserve funds per
risk type
Credit Risk 21 627 4 055 25 682 19 338 3 626 22 964
Equity Risk 1 271 238 1 509 1 158 217 1 375
Market Risk 505 95 600 366 69 435
Operational Risk 3 700 694 4 394 3 085 579 3 664
Other 1 531 287 1 818 948 178 1 126
Total minimum 28 634 5 369 34 003 24 895 4 669 29 564
required capital
and reserve funds
Notes:
1. The figures above have not been audited.
2. Available capital includes unappropriated profits of R3,7bn in Nedbank Group
and R2,8bn in Nedbank Limited.
3. 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 4 May 2012.
Sandton
4 May 2012
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: 04/05/2012 08:05:01 Produced by the JSE SENS Department.
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