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The Nedcor Group was renamed the Nedbank Group on 6 May 2005. In August 2009, Nedbank acquired the 49.9% of Imperial Bank South Africa that it did not own, so Imperial Bank South Africa is wholly owned by Nedbank. [7] In October 2014, Nedbank acquired a 20% stake in Ecobank, converting its $285 million claim in Ecobank into equity. [8] [9]
South Africa switched to a closed numbering system effective 16 January 2007. At that time, it became mandatory to dial the full 10-digit telephone number, including the zero in the three-digit area code, for local calls (e.g., 011 must be dialed from within Johannesburg).
This is a list of commercial banks and other credit institutions in South Africa, as updated late 2024 by the Reserve Bank of South Africa. [ 1 ] [ 2 ] List of commercial banks
www.nedbank.co.za NBS (previously known as Natal Building Society ) was one of the largest Independent banks in South Africa before it went through a series of mergers starting in 1998 to become part of Nedbank by 2004.
On March 23, 1888, the Nederlandsche Bank en Credietvereniging voor Zuid-Afrika ("Dutch Bank and Credit Union for South Africa") was founded in Amsterdam. The same year, a primary branch office was established in Pretoria, the capital of the then South African Republic (ZAR). By 1898, the bank had already opened four branches in the Republic.
The bank is a subsidiary of the Nedbank Group, an established financial services provider, headquartered in Johannesburg, South Africa, with total assets of almost ZAR1 188 005, as at June 2021. [ 3 ]
Edward Nathan & Friedland was formed in 1905. In 1999, Edward Nathan & Friedland was bought by Nedbank for R40 million. After an exodus of clients and lawyers, as well as deeming the investment non-core, in 2004, Nedbank sold Edward Nathan & Friedland back to 47 directors for R50 million. [6]
The FirstRand Group was established in 1998, by the merger of First National Bank of South Africa, Rand Merchant Bank and Momentum Insurance & Asset Management. FirstRand is listed as a "locally controlled bank" by the South African Reserve Bank , the national banking regulator. [ 8 ]