Nedbank Group is a South Arfican bank holding company, on of the largest in South Africa. Nedbank Group provides products and services in corporate and retail banking, property finance, investment banking, private banking, foreign exchange and securities trading through 5 main member companies: Nedbank Capital, Nedbank Corporate, Nedbank Business Banking, Nedbank Retail and Nedbank Wealth (including Nedbank Private Wealth). Nedbank Group is focused on southern Africa.
In 2017 total assets of Nedbank Private Wealth Limited were 1 482,76 mln GBP.
Nedbank Private Wealth Limited is rated by Moody's. Long-term credit rating assigned to the bank by Moody's is Baa3 (lower medium grade).
Nedbank Private Wealth Limited participates in deposit guarantee scheme of the Isle of Man. This scheme covers accounts up to 50 000 GBP per bank per depositor.
Nedbank Private Wealth Limited is headquartered in Douglas.
|private individuals, non-trading companies, trusts, governments, institutional investors|
Nedbank Private Wealth Limited provides products and services in the areas of private banking, investment management, fiduciary services. Nedbank Private Wealth Limited makes its solutions available to private individuals, non-trading companies, trusts, governments, institutional investors.
|Total Assets (2017)|
|1 482.76 mln GBP (+5.24%)|
In 2017 total assets of Nedbank Private Wealth Limited were 1 482.76 mln GBP. Growth compared to the previous period (2016) was 5.24%. The evolution of the total assets of Nedbank Private Wealth Limited is shown at Chart 1 below.
Chart 1. Total Assets of Nedbank Private Wealth Limited.
|- (not rated)||Baa3 (lower medium grade)|
Credit Rating is an opinion of a credit rating agency about credit worthiness of a company or a government. Nedbank Private Wealth Limited is rated by Moody's.
Credit ratings assigned to Nedbank Private Wealth Limited as of May 2018 are shown in details in the following sections.
Long-term rating for Nedbank Private Wealth Limited it is set to Baa3 (lower medium grade). Long-term bank deposit rating is Baa3 (lower medium grade). Baseline credit assessment is baa3. Short-term rating is not assigned.
|Long-Term Bank Deposit Rating||Baa3|
|Baseline Credit Assessment||baa3|
Outlook for the ratings of Nedbank Private Wealth Limited is set to stable (not likely to change).
|Yes (up to 50 000 GBP per depositor)|
Deposit Guarantee Schemes compensate certain deposits held by depositors of a bank that becomes unable to meet its obligations.
All credit institutions operating in the Isle of Man are obliged to participate in Manx deposit guarantee scheme.
In the case of Nedbank Private Wealth Limited failure, eligible depositors having covered accounts in this bank will be paid out the following compensation:
|Eligible Depositors||natural persons, legal entities|
|Covered Accounts||any credit balance on an account with a bank (for example, current accounts, notice accounts and fixed term accounts)|
|Maximum Protected Amount||50 000 GBP|
|Paid In Currency||GBP|
BIC (Business Identifier Code, also known as SWIFT code or SWIFT BIC) is a the mostly used international identifier of financial institutions. SWIFT is the registration authority for BICs. BICs are used in financial transactions, client and counterparty data bases, compliance documents and many others.
A BIC consists of eight or eleven characters, comprising a financial institution code (four characters), a country code (two characters), a location code (two characters) and, optionally, a branch code (three characters).
BIC of Nedbank Private Wealth Limited and its components are shown in the table below.
|Bank BIC Code||RFLC|
|Country Code||IM (Isle of Man)|
Company Registration Number is a distinctive code issued upon registration of a new company. This code can be used to find data about the company in a national company register.