2010 Annual report - Nedbank Group Limited

ankers are the interface between the client andthe bank and act as the main point of contact forall banking needs.The focus is to strengthen the relationship with theclients in order to cultivate more business from apersonal point of view, as well as on the businessside, hence it could be direct and indirect.Nedbank Private Banking continues to offer:• Transactional Banking - current accounts thatlink ATM cards, Internet banking, and foreignexchange.• Lending - Home loans, vehicle finance,overdrafts and personal loans.• Investments and Savings - Fixed and primelinkeddeposits, offshore investments anddomestic treasury products.• Financial Planning and Wealth Creation.Satisfactory growth has been noted under thissegment despite the challenges of the past yearwith declines in disposable income levels due tojob losses and high personal debt.Nedbank anticipates future growth as it enhancesits offering in 2011, providing a full privatebanking suite and giving clients the opportunityto meet with the private banking staff to discusstheir needs.Corporate and Business BankingThe focus of the Corporate and Business Divisionis to provide expert end-to-end banking solutionsto a diverse portfolio of corporate clients throughthe use of cost-effective products and electronicbanking solutions. Nedbank has accordinglydeveloped suitable strategies and goals thatfocus on sustainable service delivery in a highlycompetitive environment in line with the visionof creating the most admired bank.Emphasis has been to provide business growthin the current Swaziland economic environment,which shows slow recovery exacerbated by verylittle growth in foreign direct investment coupledwith business closures. This has seen tightcompetition among local banks for the existinglimited business in the country. Nedbank’sgrowth will be achieved through the adoption ofrisk mitigation strategies to ensure a diversifiedand quality book.Nedbank continues to drive a highly focusedteam of managers who have been instrumental ingrowing business and meeting the set targets forthe year. The philosophy of the division is teamwork through leveraging on each others’ strengthsto ensure that each individual contributesqualitatively to the achievement of the sharedgoals. The ultimate objective is to be part ofa cohesive team, which includes the supportstructures of the bank that have a collectiveapproach to the provision of superior service tothe bank’s customers. Nedbank will continue totap into its Centres of Excellence for specialisedsupport in order to enhance the bouquet ofservices available to its clients. This will ensure thatthe corporate team, together with all stakeholders,derive value from the close association.37Nedbank (Swaziland) Limited Annual Report 2010