NEDBANK Group (Nedbank) received a dividend from its local subsidiary, Nedbank Zimbabwe Limited, for the financial year ended December 31, 2025, which was successfully repatriated to the group, it has been revealed.
The group recorded the subsidiary having risk-weighted assets (RWAs) of ZAR4,39 billion (US$269,21 million) for 2025, up from ZAR3,98 billion (US$244,07 million) the previous year.
RWAs defined as the adjusted value of a bank’s assets, where each asset is weighted by its specific risk level.
Despite the increase in RWAs, Nedbank Zimbabwe maintained a capital adequacy ratio of 20,9% in 2025, down from 26,6% in 2024, comfortably above the regulatory minimum leaving the subsidiary well-capitalised.
“The repatriation of dividends?” Nedbank Africa Regions (NAR) group managing executive Terence Sibiya said in response to questions from NewsDay Business.
“Yes, we have had no problem repatriating dividends, and we are to pay a small dividend from Zimbabwe last year, and we have not done any fair value or write-downs in the year under review.”
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He, however, did not reveal the dividend amount, as the Nedbank Zimbabwe 2025 financial results are still awaiting regulatory approval.
The half-year period, which ended June 30, 2025, saw Nedbank Zimbabwe total assets rising by 20% to ZiG6,2 billion (US$230,14 million) led by a 27% increase in customer deposits to ZiG4,1 billion (US$152,19 million).
The deposit growth funded a 23% growth in loans and advances, leading to a 172% rise in net interest income for Nedbank Zimbabwe.
Nedbank said the macroeconomic environment across the Sadc countries where it operated remained challenging, with geopolitical developments related to trade and tariffs playing a key role in economic growth.
Hence, the group listed key focus areas for 2026:
“Evolving our technology ecosystem to fit-for-purpose technology infrastructure aligned with increasing agility and fostering synergies;
“Optimising our personal and private banking business performance, leveraging data to address costs and revenue generation.
“Unlocking further value in Mozambique and Namibia, identified as growth vectors;
“Accelerating growth efforts across all existing markets to achieve scale and increase ROE from Sadc operations to above the group’s COE;
“Exploring inorganic growth opportunities that play to the strengths of Nedbank and contribute to our strategic intent.”
In the short-to-medium term, Nedbank will continue collaborating with the broader group to build on its strong foundation and achieve scale through both organic and inorganic growth opportunities.
“We remain committed to increasing the contribution of NAR to total group earnings. In the medium term we aim to achieve an ROE [return on equity] that is similar to the group’s COE [cost of equity], supported by a reduction in our cost-to-income ratio,” Nedbank said.
The group is poised to accomplish this after posting a stronger balance last year, recording a 10% increase in total assets to ZAR1,55 trillion (US$95,41 billion) from the year prior.
“In 2026, we expect that strong underlying growth momentum across all our businesses will be partially offset by the normalisation of wholesale impairments off a low 2025 base, endowment pressure from lower interest rates, and associate income from ETI [Ecobank Transnational Incorporated] that will not repeat,” Nedbank Group chief executive Jason Quinn said.
“As a result, ROE for 2026 is likely to be above 15%, heading towards 2025 levels, and above an improved COE of 14%.
“We expect ROE to build in the medium term to around 17%, supported by stronger revenue growth and a well-managed expense base.”
Nedbank is headquartered in South Africa.