Nedbank has been named as the best bank in South Africa by Euromoney International Finance Magazine. The magazine made the award based on the fact that Nedbank's growth in headline earnings had increased by 26% and it provided shareholders with a 15.3% return on equity last year, according to a Business Live report.
Euromoney editor Clive Horwood said that Nedbank's bad debts were largely cleared and he commended South Africa's Big Four banks for consistently providing earnings growth of more than 20% a year.
