Nedbank Group (NED) AGM 2025 summary

Opening remarks and agenda

• The Chairperson welcomed shareholders, guests, and staff, confirmed quorum, and outlined voting procedures for both in-person and online participants.

• Voting was conducted electronically and by poll, with clear instructions provided for both physical and virtual attendees.

Financial performance review

• Headline earnings rose 8% to ZAR 16.9 billion, with ROE improving to 15.8% and diluted HEPS up 11%.

• Share price increased by 30% in 2024, outperforming the sector index, and total dividend declared rose by 10%.

• The group maintained a strong balance sheet, disciplined risk management, and continued investment in digital transformation.

Board and executive committee updates

• New board appointments included Terence Nombembe, May Hermanus, Mary Bomela, and Oliver Fortuin, enhancing diversity and expertise.

• Leadership succession was prioritized, with Jason Quinn appointed CEO and Nomonde Hlongwa as Chief Compliance Officer.

• The board's race and gender diversity improved, with targets set for 35% female representation by 2030.