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Sustainable Development Review 2019 B Overview of Nedbank Group

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Sustainable Development Review 2019 B Overview of Nedbank Group SUSTAINABLE SD DEVELOPMENT REVIEW FOR THE YEAR ENDED 31 DECEMBER 2019 NEDBANK GROUP SUSTAINABLE DEVELOPMENT REVIEW 2019 B OVERVIEW OF NEDBANK GROUP As a leader, I am committed to creating the environment that is required to bring about meaningful, long- HEADLINE EARNINGS term change and resilience for ourselves and our R12,5bn stakeholders. This means making decisions that respect the environment and its limits and placing societal good above short-term profits. Using our financial expertise to do good is our purpose, not an empty rallying call. I CET1 CAPITAL RATIO believe it is the only way that we will succeed and build a 11,5% society that we can be proud of. Mike Brown, Chief Executive, Nedbank Group CLIENTS Nedbank Group is one of the largest financial services groups in Africa, offering wholesale and retail banking services as well as insurance, asset 7,8m management and wealth management. In SA we have a strong franchise evidenced by a 19% deposit and 19% advances market share. Outside SA we operate in five countries in the South African Development EMPLOYEES Community (SADC), through subsidiaries and banks in Lesotho, Mozambique, Namibia, eSwatini (Swaziland) and Zimbabwe (during 2019 we sold our 29 403 operations in Malawi). In Central and West Africa we have a strategic alliance with Ecobank Transnational Incorporated (ETI) and we have representative offices in Angola and Kenya. TOP-TIER Outside Africa we have a presence in key global financial centres to provide international financial services for Africa-based multinational and high-net- client satisfaction worth clients, in Guernsey, Isle of Man, Jersey and London, and we have a AND LEAGUE TABLE representative office in Dubai. RANKINGS ASSETS DEPOSITS (Rbn) (Rbn) Level 1 BBBEE CONTRIBUTOR MARKET-LEADING 648 672 679 713 764 726 762 772 826 904 digital innovations 2015 2016 2017 2018 2019 2015 2016 2017 2018 2019 Carbon-neutral ASSETS UNDER Access to the largest OPERATIONS AND MANAGEMENT banking network in (Rbn) Africa through our own effectively net-zero operations in SADC and OPERATIONAL WATER USAGE our strategic alliance with ETI in 39 countries MSCI ESG rating AA 257 273 312 297 331 2015 2016 2017 2018 2019 DOW JONES SUSTAINABILITY Ecobank presence EMERGING MARKETS INDEX Nedbank presence inclusion since Ecobank and Nedbank presence 2004 CONTENTS ABOUT THIS 2019 SUSTAINABLE 2 OUR CONTEXT DEVELOPMENT REVIEW This 2019 Sustainable Development Review is produced and published annually. The review details how Nedbank is delivering OUR RESPONSE on its purpose. It describes the sustainable development action, 4 investments and contributions Nedbank Group has made in support of the United Nations (UN) Sustainable Development Goals (SDGs) during the period 1 January 2019 to 31 December SUSTAINABLE 2019 as well as any material events after this date and up to DEVELOPMENT FINANCE the board approval date of 14 April 2020. This review should be 6 read in conjunction with the 2019 Nedbank Group Integrated Report as well as the other supplementary reviews dealing with our approach to risk management, governance, ethics, people 25 OPERATIONS management, stakeholder engagement and transformation. These can be downloaded at nedbank.co.za. This review contains three main sections that are aligned with our CORPORATE SOCIAL Sustainable Development Framework: 31 INVESTMENT • Sustainable development finance – using our financial expertise, lending and investment capabilities to deliver on relevant SDG targets. 40 RECOGNITION AND RATINGS • Operations – managing our buildings, business practices and relationship with our staff and other stakeholders to align with relevant SDG objectives. 40 CONTACTS • Corporate social investment (CSI) – leveraging our CSI to contribute to those SDGs that we cannot directly target through our core business and operations. The content of this Sustainable Development Review is also informed by Nedbank’s material matters and contributes to our group’s compliance with the Global Reporting Initiative (GRI) standards for sustainability reporting. Related online reports and publications, as listed below, can be accessed on our group website at nedbankgroup.co.za. Our integrated reporting consists of a full suite of online publications, which caters for the diverse needs of our broad stakeholder base. These can be accessed on our group website at nedbankgroup.co.za. INTEGRATED FINANCIAL AND SUSTAINABLE GOVERNANCE SHAREHOLDER REPORT 2019 RISK MANAGEMENT DEVELOPMENT REPORTING INFORMATION REPORTING REPORTING • Governance and Ethics • Notice of 53rd AGM • Results booklet and • Sustainable Development Review • Form of proxy presentation Review • Director and executive • Shareholding profile • Nedbank Group Annual • Stakeholder Engagement profiles Financial Statements Report • Remuneration Report • Pillar 3 Risk and Capital • People Report • Key policies Management Report • Transformation Report • Tax Report and BBBEE certificate • Global Reporting Initiative Standards • ESG disclosures NEDBANK GROUP SUSTAINABLE DEVELOPMENT REVIEW 2019 1 OUR CONTEXT We, and our stakeholders, continue to operate in a world Within this context we have identified the that is volatile, uncertain, complex and ambiguous. following material matters that represent the issues that have the most impact on our ability This state was deepened by the tapestry of social and to create sustained value for our stakeholders. environmental challenges that intensified during the period While these issues change over time, as new under review, including the unprecedented impact of trends and developments shape the macro environment and our stakeholders’ needs Covid-19. Bold and courageous leadership that embraces evolve, the broad themes remain consistent. new ways of thinking and doing – and unites rather than These material matters are addressed polarises – is what is needed as we enter this new decade. across the suite of Nedbank 2019 reports. COVID- 19 along with additional opportunities result of digitisation relating to skill sets Covid-19 brought about by the recent ratification and a reduction in organisation sizes. Client At the time of publishing, many of the African Continental Free-trade behaviours and uptake of digital offerings governments were implementing Agreement (AfCFTA). Continued influence the roles and skill sets required for emergency measures to curb the implementation of the agreement should banks to grow their business. In addition, spread of the virus, including a full boost intra-Africa trade in the medium- the increase of millennials in the workforce lockdown in SA. At Nedbank, we are to-long-term. Banking penetration still requires learning offerings that meet their working tirelessly to ensure that we remains relatively low in many African needs to keep their skills relevant to meet do all we can to ensure stakeholders countries, creating an opportunity for the demands of the ever-changing context. are prepared to deal with this established banks from well-developed escalating challenge. Our primary financial markets to grow. Mobile and Changing relationships focus is on the health and safety of digital technologies driven largely by between business, our staff alongside the continuous fintech companies are gradually boosting and uninterrupted provision of financial inclusion in SSA. government, labour and civil worldclass banking and other society financial services to our clients. Increased competition and Government, business, labour and civil Please refer to nedbank. threat of new entrants society all understand the imperative to co.za or our 2019 Integrated Competitors in the banking sector have address weak economic conditions and Report for further details on evolved to include new entrants, fintech high levels of unemployment, avert further our response. disruptors and big tech disruptors. These sovereign-credit-rating downgrades disruptors are revolutionising the banking and increase levels of inclusive growth to experience for clients. ensure a better life for all. Working together A challenging SA towards a common goal will assist the SA Disruptive technologies economy in reaching its full potential and macroeconomic reducing inequality and poverty. environment and increased competition As the world becomes increasingly Demands on governance, As a financial services provider, we are digitised, all industries are feeling highly connected to and interdependent the impact of the pervasiveness of regulation and risk on the macroeconomic environment, technology. Financial institutions have management especially in SA, where we currently seen leading indicators of this revolution The financial services industry worldwide generate more than 90% of our as it changes all aspects of providing has seen an exponential increase in earnings. Our ability to create value is financial services and creates new regulations since the global financial dependent on key economic drivers, our opportunities – from digitisation of crisis. These regulations have placed response to them and their impact on financial services, enhanced client new demands on banks, resulting in the our stakeholders. experiences and new products and increased cost of banking. We support the channels, to evolving organisational intention of increased global regulations to Managing growth structures and internal processes, as well protect our stakeholders by preventing a opportunities versus risks as new staffing and skills requirements. similar financial crisis from reoccuring in the New digital technologies
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