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(AFX UK Focus) 2009-11-05 06:52 BRIEF-Nedbank sees FY diluted headline EPS 25-35 pct lower
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JOHANNESBURG, Nov 5 (Reuters) - Nedbank Group: SAYS Q3 NET INTEREST INCOME GREW BY 1.1% TO R12 198 MILLION SAYS NET INTEREST MARGIN REDUCED FROM 3.44% FOR THE SIX MONTHS ENDED JUNE `2009 to 3.40% for the period` SAYS Q3 GROUP CREDIT LOSS RATIO IMPROVED FROM 1.57% FOR THE SIX MONTHS TO `June 2009 to 1.47%` SAYS NO LARGE CORPORATE DEFAULTS WERE EXPERIENCED IN Q3, CREDIT RISK IN THE `wholesale banking businesses remains high` SAYS RETAIL IMPAIRMENTS REMAIN CHALLENGING SAYS Q3 NON-INTEREST REVENUE (NIR) GREW BY 19.6% TO R8.542 BILLION SAYS ADVANCES UP 2.8% (ANNUALISED) TO R443.3 BILLION; GROWTH EXPECTED TO `remain modest across most banking asset classes` SAYS ECONOMIC ENVIRONMENT IS LIKELY TO REMAIN WEAK FOR THE BALANCE OF THE `year` SAYS CONSUMERS AND CORPORATES LIKELY TO REMAIN UNDER PRESSURE, EXPECTED TO `impact on transaction volumes, asset growth` SAYS CREDIT LOSS RATIO IS EXPECTED TO CONTINUE TO IMPROVE SLOWLY, AS `affordability improves and impairments slow` SAYS EARNINGS FORECASTS REMAIN WITHIN THE RANGES COMMUNICATED AT THE INTERIM `stage` SAYS DILUTED HEADLINE EPS, DILUTED EARNINGS PER SHARE FOR 2009 ARE CURRENTLY `expected to be between 25% and 35% lower` ((Johannesburg newsroom, +27 11 775 3155)) (For more information, click on) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
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