Nedbank

It is one of the most important African banks in charge of offering services of wholesale and retail banking, asset management, wealth management and more. It operates in several African countries and outside the continent.

History

It was founded in Amsterdam under the name of Nederlandsche Bank in Credietvereeniging by Zuid-Afrika in 1888 and that same year established a branch in South Africa. In 1903, it was renamed to Nederlandsche Bank by Zuid-Afrika. In the early 1950s, the bank broke up, and the South African side received the name of Nederlandse Bank in Suid-Afrika Beperk (Netherlands Bank of South Africa Limited). The Dutch part ceased to exist. In 1971, it was changed to Nedbank (as it is today) and later, it merged with Syfrets SA, Union Acceptances to form Nedbank Group in 1973.

Swift Code

The Swift Code (Society for Worldwide Interbank Financial Telecommunication), also known as BIC, is used during an international transfer to identify the receiving bank: NEDSZAJJ.

Number of Employees

The bank has approximately 31,592 employees.

Rating

The rating is the evaluation of a bank and the risks it can take in case of not paying a debt. Moody’s, S&P, and Fitch are the agencies in charge of it.

Nedbank has a rating of:

  • Moody’s = Baa3.
  • S&P = BB. 

Baa3 (Moody’s) = It has moderate credit risk.

BB (S&P Global) = It is very prone to economic changes.

Headquarters

The headquarters of the entity is in the city of Sandton, South Africa.

Website

If you want to know more about this bank, enter through its website: http://www.nedbankgroup.co.za/.

Services

  • Personal banking: The entity provides savings, investments, loans, insurance, financial planning, interest rates and more.
  • Business banking: It offers services for small businesses that include receiving, paying, lending, investing, trading, protecting and more.
  • Corporate banking: The company allows corporate clients to receive private capital services, consultations, financing, working capital, investments, commerce, transactions, insurance and more.

Contact

  • Address: 135 Rivonia Road, Sandown, 2196, Sandton
  • Phone Number: +27 11 710 4000