For the half year ended 30 June, the bank's headline earnings per share, a profit measure, was at R15.25 ($0.8121), up from R13.70 posted a year earlier.
South African banks - among the continent's biggest - are generally considered well-capitalised and conservative in lending. But a combination of inflation, high interest rates and regular power cuts are taking a toll.
Nedbank's credit loss ratio - a measure of bad loans as a percentage of total loans - was at 121 basis points (bps), higher than 85 bps it posted a year earlier and beyond its target range of 80 bps to 100 bps.
Reuters, the news and media division of Thomson Reuters, is the world's largest multimedia news provider, reaching billions of people worldwide every day.
Go to: https://www.reuters.com/