BRIEF-Nedbank Group Sees FY HEPS, EPS To Decline By More Than 20% Compared To 12-Months Ended 31 Dec 2019

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BRIEF-Nedbank Group Sees FY HEPS, EPS To Decline By More Than 20% Compared To 12-Months Ended 31 Dec 2019
Credit: © Reuters.

Oct 29 (Reuters) - Nedbank Group Ltd NEDJ.J :

* FINANCIAL PERFORMANCE OF GROUP IMPROVED IN Q3 2020 WHEN COMPARED TO Q2 2020

* NET INTEREST INCOME (NII) GROWTH FOR 9M 2020 DECREASED FROM 1% GROWTH REPORTED FOR SIX MONTHS TO 30 JUNE 2020 (H1 2020)

* DECLINE IN NII IN Q3 2020 WAS LESS THAN WE EXPECTED BUT IS IN LINE WITH OUR FULL YEAR 2020 GUIDANCE RANGE OF BETWEEN 0% AND -5%

* FULL-YEAR HEPS AND EPS ARE EXPECTED TO DECLINE BY MORE THAN 20% WHEN COMPARED TO 12-MONTH PERIOD ENDED 31 DECEMBER 2019

* ROE FOR 9M 2020 INCREASED WHEN COMPARED TO 4,8% REPORTED IN H1 2020

* NON-INTEREST REVENUE GROWTH FOR 9M 2020 DECREASED WHEN COMPARED TO DECLINE OF 5% REPORTED IN H1 2020

* CURRENT GUIDANCE FOR ALL KEY 2020 PERFORMANCE METRICS, AS OUTLINED IN 2020 INTERIM RESULTS, REMAINS INTACT

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