By Lwazi Dlamini
Nedbank Eswatini’s strong market performance in 2024 has delivered a record headline earnings of E202 million for the year ended 31 December, 2025.
This shows a 13.5 per cent year-on-year increase.
Nedbank Eswatini Managing Director Fikile Nkosi said the milestone underscores the bank’s continued commitment to innovation, client growth, and sustainable impact in Eswatini.
“This performance reflects the resilience of our strategy, the dedication of our people and the trust of our clients.
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We’re proud to have delivered the growth in a dynamic environment while continuing to make a meaningful difference in the communities we serve,” Nkosi said.
The MD said the gross profit was a staggering E300 million but after tax, it stood at E202 million.
She highlighted that the Eswatini economy posted moderate growth in 2024, buoyed by stronger SACU receipts.
“The Central Bank’s decision to cut interest rates by 50 basis points in Q4 brought welcome relief after a year of monetary tightening.
Inflation remained elevated in the first half of the year due to global supply chain pressures and fuel price volatility but showed signs of easing in the final quarter. Against this backdrop, Nedbank Eswatini maintained its momentum, with both net interest income and non-interest revenue showing robust growth,” Nkosi said.
Nkosi said the bank’s performance was bolstered by the strong contribution of its sales engine – comprising Wholesale Banking, Retail Banking and Treasury.
“This cross-functional alignment enabled the bank to meet evolving client needs while maintaining a disciplined focus on asset quality and shareholder value.
Demonstrating agility in execution, the bank expanded access to credit for qualifying clients and sectors, ensuring much-needed liquidity for businesses and individuals.
Lednign decisions were guided by robust risk practices and a mandate to deliver long-term, responsible value creation for shareholders,” she said.
The MD added: Nedbank Eswatini teams identified renewable energy and agriculture as critical pillars for sustainable growth in the local economy.
As such, the bank began directing targeted funding and advisory support to businesses and initiatives operating in these sectors – reinforcing its role as an enabler of inclusive economic development.”
Nkosi also highlighted that the bank continued to grow its client base and recorded strong growth across its digital platforms, which is in line with Nedbank’s long-term digital strategy, which continues to deliver better experiences for clients and greater operational efficiency.
“Throughout 2024, Nedbank introduced a range of innovative solutions to support both retail and business clients.
Notably, the bank launched e-commerce solutions to facilitate ease of transactions for customers, enhancing access to digital payments and online trading.
These innovations have further positioned Nedbank as a trusted partner in enabling financial inclusion and digital adoption,” she stated.
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Nkosi said the Nedbank brand continues to grow and resonate with the Market.
“This is evident in the 2024 brand sentiment performance where Nedbank Eswatini ranked No:1. This is reflection of our purpose-led strategy of being the most admired bank in Eswatini.
In line with our brand purpose of being Money Experts who do good, the bank made significant investments in community development and corporate social initiatives, reinforcing its position as a responsible and engaged corporate citizen,” she said.
Looking ahead, Nkosi said the bank’s focus remains on building a more digitally enabled, client-focused and resilient bank.
“With a strong capital position, increasing market share and a growing client base, the bank is well-positioned to continue delivering sustainable value for all stakeholders,” she concluded.
