town . type public jse ned industry banking founded 1 march 1888 ; 128 years ago 1888 03 01 headquarters sandton south africa area served south africa key people michael william thomas brown ceo raisibe morathi cfo mfundo nkuhlu coo trevor adams crf vassi naidoo chairman products financial services revenue zar 35 016 million 2013 total assets zar 866.5 billion 2015 number of employees 30 739 2015 website home page nedbank is one of the largest banks in south africa ; however it is one of the newest banks to be incorporated . it is headquartered in johannesburg . market capitalization was zar 120 billion approximately us 9.85 billion as of 30 june 2015 . contents 1 history 2 nedbank group 3 hsbc buyout bid 4 ownership 5 see also 6 references 7 external links history edit the bank was originally founded in 1888 in amsterdam as the nederlandsche bank en credietvereeniging voor zuid afrika dutch bank and credit union for south africa . in the same year the bank opened an office in pretoria south african republic ; in 1898 the bank moved its office to church square . in 1903 the company was renamed to nederlandsche bank voor zuid afrika dutch bank for south africa . in 1906 the bank expanded and an office in london was opened . the bank split in 1951 renaming its south african part as nederlandse bank in suid afrika beperk netherlands bank of south africa limited . the number of south african shareholders increased greatly and in 1969 the company became 100 % south african owned after the bank mees en hope sold 20 percent of its shares . the south african part was completely independent . the dutch part of the bank no longer exists ; it s currently part of abn amro . in 1992 the name of the bank was changed to nedcor bank limited of which nedbank became the largest division . in 1992 syfrets ual and nedbank investment bank merged to become nedcor investment bank nib . old mutual nedcor s holding company was demutualised and listed on the london stock exchange in 1999 . it became a constituent of the ftse 100 index . nedbank acquired the isle of man and jersey private banking business of robert fleming & co. in 2001 . the new nedcor group was formed on 1 january 2003 combining nedcor boe nedcor investment bank and cape of good hope bank into one legal entity . the nedcor group was renamed the nedbank group on 6 may 2005 . nedbank headquarters are in sandton south africa . in august 2009 nedbank bought the remaining 49.9 % of imperial bank south africa which is now fully owned by nedbank . 1 nedbank group edit nedbank group is the holding company of all nebank s businesses subsidiaries and affiliates . those subsidiaries and affiliates include the following 2 nedbank ltd local subsidiaries peoples mortgage ltd nedcor investments ltd nedgroup investment 102 ltd depfin investmentss pty ltd boe holdings ltd nedbank ltd foreign subsidiaries nedbank lesotho ltd nedbank swaziland ltd 65 % nedcor trade services ltd foreign nedbank group subsidiaries nedeurope ltd mn holdings ltd nedbank malawi ltd 97.1 % mbca bank ltd 70.9 % nednamibia holdings ltd nedbank namibia ltd nedgroup international holdings nedbank private wealth ltd formerly fairbairn private bank iom ltd nedgroup trust ltd formerly fairbairn trust company ltd alliance investments ltd boe investment holdings ltd boe private client investment holdings ltd nedgroup structured life ltd formerly boe life ltd nedgroup life assurance company ltd nedgroup investment holdings 101 ltd nedgroup securities pty ltd nbg capital management ltd nib blue capital investments pty ltd nedgroup private wealth pty ltd formerly boe pty ltd trust and securities entities syfrets securities ltd nedgroup private stockbrokers pty ltd formerly boe stockbrokers pty ltd nedgroup collective investments ltd dr holsboer benefit fund other insurance entities nedgroup insurance company ltd nedbank group insurance company ltd formerly nedcor group insurance company ltd 3 hsbc buyout bid edit on 23 august 2010 hsbc made an offer to buy up to 70 % of nedbank in a deal worth r49 .9 billion us 6.8 billion . if the south african government had approved the deal and it had gone through the buyout would have given hsbc a strong foothold in africa s financial services sector . 4 on 15 october 2010 hsbc withdrew its offer to nedbank following the expiration of the agreed exclusivity period . if the deal had gone through it could have been worth an estimated r45 billion . 5 ownership edit the shares of the stock of nedbank group are traded on the jse and on the namibian stock exchange . as at june 30 2015 the shareholding in the group s stock consisting of 494 411 956 shares was as depicted in the table below 6 nedbank group rank name of owner percentage ownership 1 old mutual life assurance company limited 55.43 2 coronation fund managers 7.96 3 public investment corporation 6.29 4 nedbank treasury bee trusts 3.73 5 lazard asset management 2.72 6 sanlam investment management 1.63 7 dimensional fund advisors 1.62 8 blackrock 1.60 9 other investors via the jse and nsx 19.02 total 100.00 see also edit boe stockbrokers list of banks in south africa economy of south africa south african reserve bank references edit nedbank buys out imperial bank for us 226m affiliates and subsidiaries of nedbank group 1 nedbank 2012 interim report hsbc to buy up to 70 % of nedbank mail & guardian david dolan and kelvin soh 23 aug 2010 chinese abandon nedbank bid times live by sapa 15 october 2010 4 32pm 2015 nedbank group interim results booklet pdf . http www.nedbankgroup.co.za . nedbank group . june 30 2015 . retrieved february 1 2016 . external link in website help external links edit nedbank south africa website nedbank group website nedbank facebook page v t e banks of south africa central bank south african reserve bank the big four commercial banks absa first national bank fnb nedbank standard bank other african bank bidvest bank capitec bank firstrand bank grindrod bank imperial bank south africa investec vbs mutual bank sasfin bank teba bank limited postbank development bank of southern africa land and agricultural development bank of south africa defunct 20twenty african banking corporation allied bank colesberg bank nbs permanent bank saambou trustbank united bank retrieved from https en.wikipedia.org w index.php title nedbank & oldid 728334405 categories banks of south africabanks established in 1888companies based in johannesburgsouth african brandscompanies listed on the johannesburg stock exchangehidden categories cs1 errors external linksuse dmy dates from december 2014use south african english from december 2014all wikipedia articles written in south african english navigation menu personal tools not logged intalkcontributionscreate accountlog in namespaces article talk variants views read edit view history more search navigation main pagecontentsfeatured contentcurrent eventsrandom articledonate to wikipediawikipedia store interaction helpabout 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