Nedbank first-half profit edges higher

Nedbank Group said first-half profit rose marginally as loans growth improved, fee income grew and as the South African lender kept a lid on expenses.

Headline earnings climbed 0.1% to R8.41 billion in the six months through June, it said in a statement, the highest first-half performance on record. The bank’s interim dividend of R10.52 trailed a median estimate of R10.54 by analysts in a Bloomberg survey.

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