August 2, 2017 / 5:14 AM / 2 years ago

BRIEF-Nedbank Group reports HY headline earnings of 5.3 bln rand

Aug 2 (Reuters) - NEDBANK GROUP LTD:

* NEDBANK GROUP-2017 GUIDANCE FOR GROWTH IN DILUTED HEPS IS FOR THIS MEASURE TO BE POSITIVE, BUT LESS THAN OR EQUAL TO GROWTH IN NOMINAL GDP

* HY HEADLINE EARNINGS OF R5.3BN, BEING 2.9% DOWN ON OUR 2016 FIRST-HALF

* EXCLUDING ETI, HY DHEPS INCREASED BY 5,9% TO 1 316 CENTS (JUNE 2016: 1 243 CENTS)

* HY CET1 CAPITAL RATIO OF 12,3% (JUNE 2016: 11,6%) AVERAGE LCR FOR Q2 OF 104,6% (JUNE 2016: 93,1%)

* HY NEDBANK’S NET ASSET VALUE PER SHARE INCREASED TO 16 200 CENTS (JUNE 2016: 15 826 CENTS)

* HY NII INCREASED BY 4,0% TO R13 548M (JUNE 2016: R13 028M), AHEAD OF AVERAGE INTEREST-EARNING BANKING ASSET GROWTH OF 2,4%

* NEDBANK GROUP LTD - COLLABORATION WITH OM PLC TO UNLOCK R1,0BN OF SYNERGIES BY END OF 2017 FROM OM PLC BUSINESSES IN SA, REMAINS ON TRACK

* NEDBANK GROUP LTD - “IN LIGHT OF WEAK ECONOMIC OUTLOOK IN SA”, CO REVISED GUIDANCE ON FINANCIAL PERFORMANCE FOR FULL YEAR 2017

* GIVEN SA’S WEAKER-THAN-EXPECTED GROWTH IN FIRST HALF, NEDBANK GROUP’S CURRENT FORECAST FOR GROWTH IN 2017 IS 0,6%, WITH RISK TO GROWTH ON DOWNSIDE

* NEDBANK GROUP LTD - SEES 2017 AVERAGE INTEREST-EARNING BANKING ASSETS TO GROW BELOW NOMINAL GDP GROWTH

* NEDBANK GROUP LTD - SEES 2017 NIM TO BE SLIGHTLY ABOVE 2016 REBASED LEVEL OF 3,54%

* NEDBANK GROUP LTD - SEES 2017 CLR TO INCREASE FROM LEVEL OF 47 BPS IN FIRST HALF OF 2017 TOWARDS BOTTOM END OF OUR TARGET RANGE OF 60 TO 100 BPS

* FY HOUSEHOLD CREDIT DEMAND SEEN SUBDUED AS CONSUMERS POSTPONE BUYING NEW HOMES AND VEHICLES, AND INSTEAD SAVE AND/OR REDUCE DEBT LEVELS Source text for Eikon: Further company coverage: (Bengaluru Newsroom)

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