NEDBANK CAPITAl - Nedbank Group Limited

nedbank Retail ... continuedWe are fully committedto our AskOncepromise campaign,which is our guaranteeto clients that wewill continuouslyenhance their bankingexperience with us.2009 (a lower percentage represents animproved score in this assessment).The Nedbank Staff Survey for Retail alsoimproved across all dimensions with theoverall score improving from 72% in2008 to 76% in 2009.Prospects and strategyThe high levels of consumer indebtednessand fragile economic recovery meansdefaulted clients will take longer tocure. This requires a strong focus on riskmanagement and further strengtheningof Retail’s capabilities, especially asimpairments remain well outside thepreferred risk appetite and proposed newtarget ranges.Looking forward, as Retail shifts to amore client-centred and integratedbusiness, the focus will be on noninterestrevenue (NIR) growth anddelivering economic profit using risk asan enabler. In managing the businessthrough the current challengingeconomic cycle, fewer focus areas havebeen prioritised, balancing short- andlong-term impact. These include:• Focusing on NIR growth throughprimary-client acquisition, qualitysales, driving cross-selling andreducing attrition.• Creating a focus on reducingeconomic losses through effectivecollection and risk managementpractices while emphasisingselective asset growth, capitaloptimisation and retaining andgrowing liabilities, especially savingsaccounts.• Developing a client segmentationstrategy to drive retention,efficiencies, acquisition andpenetration across the business.• Developing a comprehensivetechnology roadmap to ensure thattechnology investment is focused onaddressing core client needs.• Defining and investing in the threelevels of a competency-based cultureto equip staff with appropriate skillsand improve the efficiency andeffectiveness of human resourcesfunctions.These focus areas will be underpinnedby a culture of disciplined execution anddifferentiated client service.72NEDBANK GROUP ANNUAL REPORT 2009