UPDATE 1-South Africa's Nedbank H1 profit growth slows as Ecobank weighs

August 1, 2016 6:55 AM

15 0

Aug 1 South Africa's No.4 lender Nedbank Group reported a sharp slowdown in half-year profit growth on Monday, weighed down by losses at its struggling pan-African associate Ecobank and weak consumption spending at home.

* Nedbank, a unit of Old Mutual, said diluted headline earnings per share (EPS) increased 1.6 percent to 1,119 cents -- excluding Ecobank Transnational Inc, diluted headline EPS grew 19.7 percent.

Also read: Fed Beige Book Shows ‘Mostly Positive’ Outlook for U.S. Economy

Read more

To category page