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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. [8] In October 2014, Nedbank acquired a 20% stake in Ecobank, converting its $285 million claim in Ecobank into equity. [9] [10]
The Natal Building Society (NBS) was established as a building society in 1882. [1]In 1998, NBS merged with Boland Bank to form NBS Boland.The Managing Director at that time was John Graham Maxwell.
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).
On 15 October 2018, Old Mutual unbundled their majority shareholding in Nedbank, marking a distribution worth approximately R43.2 billion to Old Mutual shareholders, and the completion of Old Mutual Group's managed separation. [30] Old Mutual's head office moved to No 1 Mutual Place, Sandton in the same year. [31]
HSBC is aiming to acquire as much as 70% of Nedbank in a deal worth as much as 49.9 billion rand ($6.8 billion). HSBC is aiming to expand its emerging market business, including its existing ...
Much of the financial focus of Johannesburg has shifted from the Central Business District to Sandton. However, three of South Africa's four largest banks have kept their head offices in downtown Johannesburg. The other bank, Nedbank, has its headquarters in Sandton. A considerable amount of the city's A-grade office space is to be found in ...
Nedbank Zimbabwe Limited, also Nedbank Zimbabwe, is a commercial bank in Zimbabwe. It is licensed by the Reserve Bank of Zimbabwe , the central bank and national banking regulator. [ 2 ] The bank was previously known as MBCA Bank, prior to rebranding to its present name.
With more than 1,500 branches in 35 countries, the Ecobank-Nedbank Alliance is the largest banking network in Africa. The alliance was formed in 2008 between the Ecobank Group and the Nedbank Group, one of South Africa 's four largest financial services providers, with a growing footprint of operations across the Southern African Development ...