Harare – Nedbank Zimbabwe says it is excited that the momentum created by the rebranding exercise and core banking system changeover will continue to create positive results into the future.
The bank operated under different names since its creation in 1956 and before the recent name change, was known as MBCA named after merchant bank status. The bank said enhanced brand equity and core banking system has enabled the launch of exciting innovative products which in turn helped a stronger financial performance in the first 6 months period of the year. In the period the bank reported a profit after tax of $4.4 million which is a growth of 61% from $2.7 million last year.
Speaking at a media briefing during the rebranding ceremony earlier in March MD Charity Jinya assured stakeholders that the rebranding was beyond just a name change charging that the transition would improve customer service through access to innovative products, services and enhanced banking channels well known across the Southern Africa region as provided by its SA parent NEDBANK plc.
Dr Jinya added that central to this enhanced offering is the rollout of a new core banking and internet system known as flexcube which forms part of Nedbank’s strategic investment of US$66 million into its operations in the SADC region.
She said the core banking system would allow the Bank to offer its clients simpler and more transparent pricing structures, including a range of value adding bundled banking offerings.
In a statement accompanying the Bank’s financial results for the six months to June 30, 2018 Dr Jinya said going forward, “We are excited that the momentum created by the rebranding exercise and core banking system changeover will continue to create positive results into the near future.
“We look forward to continued improvement of the country’s economic outlook as the country progresses with re-engagement with the international community and achieves arrears debt clearance. This will form a solid foundation for us to build the Nedbank brand equity and leverage propositions already available at Group Level for the benefits of our clients,” she said.
Dr Jinya added that in an increasingly digital era, it is clear that the Bank must be able to innovate and adapt to new ideas in order to remain relevant in the market.
“In this regard, the Bank is training and capacitating its talent pool. Through a number of programs such as the recently completed Employee Share Scheme, and talent development programs, we have sought to develop and retain staff with leadership capabilities and skill-set necessary to drive this Bank.”
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