Bloomberg News

Nedbank Unit Aims for Double-Digit Growth, Business Day Says

March 30, 2012

Nedbank Capital, the investment banking unit of Nedbank Group Ltd. (NED), plans to grow earnings excluding one-time items in the “double digits” this year as it funds infrastructure and renewable energy projects, Business Day reported, citing Managing Executive Brian Kennedy.

The bank plans to provide funding in the second phase of South Africa’s renewable energy independent power producer program, the Johannesburg-based newspaper cited Kennedy as saying. Opportunities also existed to finance mergers and acquisitions between junior miners, it quoted Terence Sibiya, executive head of coverage and origination at the bank as saying.

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