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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. [7] In October 2014, Nedbank acquired a 20% stake in Ecobank, converting its $285 million claim in Ecobank into equity. [8] [9]
Nedbank Namibia Limited, part of Nedbank Group; Bank BIC Namibia Limited, part of Angola's Banco BIC Group; Letshego Bank Namibia Limited, part of Letshego Group; Branch of Banco Privado Atlântico (Lisbon)
It was reported at the time that the value was approximately R1.7 Million out of 30 deposit boxes in the branch. [ 10 ] In 2018, reports surfaced that 60 victims were going ahead with a damages claim against First National Bank (South Africa) reported to amount to R121 Million.
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]
In 2001, the Nedbank Group acquired 50.1% controlling interest in the bank. Imperial Holdings retained 49.9% shareholding. In August 2009, the Nedbank Group acquired the 49.9% that it already did not own, thereby becoming the sole owner of the bank. [2] [3]
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.
All of the South African major banks like FNB, ABSA, Standard Bank, Nedbank and Capitec Bank have branches in the city. Together with Rustenburg, Klerksdorp forms the economic heart of North West Province. It is one of the hubs of the South African gold mining industry, although its importance has been decreasing in recent years.
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.