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Nedbank projects 90% increase in full year profit

Its dividend for the full year is likely to be in the range of 1.75 to 2.25 times its profit.
Image: REUTERS/Siphiwe Sibeko

South African lender Nedbank Group on Monday said its full-year profits would be close to double as performance across all industry segments has reached pre-pandemic levels, but flagged risks from a more severe fourth wave of Covid-19.

The bank expects its full year headline earnings per share – the main measure of corporate profit in South Africa – to be up by more than 90% for the year ending December 31.

Its dividend for the full year is likely to be in the range of 1.75 to 2.25 times its profit, the lender, among the top four in the country, said in a statement, adding it would announce its results on March 9.

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