Nedbank

Known today as Nedbank, the Nederlandsche Bank en Kredietvereeniging voor Zuid-Afrika was founded in 1888 in Amsterdam.

The bank opened its first office in Church Street, Pretoria in the same year. In 1903 the company changed its name to Nederlandsche Bank voor Zuid-Afrika. In 1906 they expanded even further and opened an office in London.

The proud history of Nedbank

In 1969, a significant increase in the number of South African shareholders made the Nederlandsche Bank voor Zuid-Afrika 100% South African-owned. In 1971, the name was officially changed to what we now know as Nedbank.

On the 1st of January 2003, Nedcor, BoE, Cape of Good Hope Bank, and Nedcor Investment Bank formed the new Nedcor Group. The group was renamed the Nedbank group on May 6th, 2005.

Nedbank’s achievements

Nedbank currently operates a total of 618 outlets across the country, including African regions. These outlets are staffed by 27,303 employees serving 7,1 million clients. Of these 7.1 million clients, 2.3 million are digitally active. Nedbank also boasts 4,453 ATMs in its network.

The head of Nedbank

At the top of Nedbank operations is a board of directors. Nedbank's board of directors consists of:

• Paul Mpho Makwana – Chairperson
• Michael William Thomas Brown – Chief Executive
• Michael Davis – Chief Financial Officer
• Hubert Rene Brody – Lead Independent Director
• Brian Anthony Dames – Independent Non-Executive Director
• Neo Phakwana Dongwana – Independant Non-Executive Director
• Mfundo Clement Nkuhlu – Chief Operating Officer

The values you can expect from Nedbank

Every major corporation is based on a set of core values. These values indicate what you can expect from them on a service level. Nedbank’s values include:

1. Integrity – to be honest, and transparent
2. Respect – treating you with integrity
3. Accountability – to take responsibility for their actions
4. People-centered – to invest in and empower you
5. Client-driven – to exceed your expectations

Nedbank offers you a comprehensive financial solution. Their banking institution is your one-stop shop for everything you need regarding personal and business banking. They’re dedicated to your financial well-being in every aspect.

Services you’ll find at Nedbank

Apart from top-class customer service delivery, Nedbank has a range of financial solutions to choose from on your journey to financial prosperity. These include:

1. Nedbank corporate and investment banking
2. Nedbank retail and business banking
3. Nedbank wealth and asset management

Equipment finance from Nedbank

Equipment finance from Nedbank gives you access to financing for the purchase of goods needed to enhance your business. It’s an instalment sale agreement that allows you to purchase the equipment in cash and repay Nedbank in monthly instalments.

Nedbank’s equipment finance gives you access to funding for the following:

• To purchase new/used vehicles from Nedbank-approved individuals or dealerships
• For the purchasing of durable consumer items such as:
  • Appliances
  • Office equipment
• Specialised equipment that’s needed for the manufacturing of goods, medical equipment, and engineering equipment.

What you can expect from Nedbank’s equipment finance

When you apply for equipment finance from Nedbank, your financing options can be tailored to meet your business's needs. You can choose any of these options:

• A deposit is negotiated based on the product you want to purchase and your financial situation.
• A loan term of between 24 and 72 months
• Interest rates are either fixed or prime-linked
• You have a choice between a loan term, an instalment sale, or a financial rental
• For small and intermediate agreements, Nedbank doesn’t penalise early settlement
• You can opt for a balloon payment in your contract agreement

Nedbank’s additional business services

Apart from equipment financing, Nedbank has other business-related services on offer. These include:

• Vehicle insurance – To protect your business vehicles from third-party claims, loss, or damage.
• Private-to-private sales facilitation – Nedbank’s partner service provider can assist you with safe private vehicle sales.