News Column

Nedbank boosts income

May 14, 2014

Nedbank reported an 8.7 percent jump in net interest income in the first quarter, after a lending push grew total advances.

The bank said net interest income - the difference between interest received on loans and paid out on deposits - was R5.57 billion, while non-interest revenue was up 2.7 percent to R4.5bn.

Total advances were up 14.9 percent to R601bn, while deposits increased almost 10 percent to R618bn.

Cape Argus

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Source: Cape Argus (South Africa)

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