CHAMWE KAIRA
NedNamibia Holdings Limited (NNH Group) increased its profit after tax by 23.7% to N$239 million for the six months ended 30 June 2026, supported by growth in core banking income, improved credit performance and tight cost management.
The group reported profit before tax of N$287.7 million, representing a 25.6% increase from N$229 million in the corresponding period in 2025.
Net interest income rose by 7.6% to N$517.6 million, while non-interest revenue increased by 10.7% to N$285.4 million.
Impairment charges on advances declined by 10.8% to N$31.1 million, compared to N$34.9 million in the first half of 2025, reflecting an improvement in asset quality.
Operating expenditure increased by 1.9% to N$484.2 million, significantly below the growth recorded in income.
NNH Group chairperson, Sebby Kankondi and managing director, Martha Murorua said the group’s first-half performance reflected the resilience of its business model, disciplined execution of its strategy and continued focus on customers and shareholder value.
Loans and advances to customers increased by 25.4% year-on-year to N$13.46 billion at the end of June 2026, compared to N$10.73 billion a year earlier.
Deposits grew by 10.8% to N$21.47 billion from N$19.38 billion over the same period, while total assets increased by 9.1% to N$25.52 billion.
The group said its liquidity position remained strong, with a liquidity coverage ratio of 154%, above regulatory requirements.
Nedbank Namibia’s total regulatory capital stood at N$2.57 billion at the end of June 2026. Its Tier 1 risk-based capital ratio was 13.4%, while the Tier 2 ratio stood at 2.5%, resulting in a total risk-weighted capital ratio of 15.9%.
During the period, NNH Group continued its community and development initiatives through programmes focusing on sustainable livelihoods, youth development, entrepreneurship, education, sport and environmental conservation.
The group said it employed 40 graduates through its internship programme and continued supporting entrepreneurship, agricultural skills, financial literacy and conservation initiatives.
Looking ahead, NNH Group said it would focus on executing its strategic priorities, deepening customer relationships, strengthening its digital capabilities and pursuing sustainable growth.
The group said its capital and liquidity positions provided a solid foundation for the remainder of 2026.
“We delivered a strong financial performance during the first half of 2026, reflecting the resilience of our business model, disciplined execution of our strategy, and our continued focus on serving our customers while creating sustainable value for shareholders,” the company said.
The group said it is particularly encouraged by the improvement in asset quality, with impairment charges declining by 10.8% compared to the prior period.
“Our focus on operational efficiency continued to yield positive results. While we continued to invest in strategic initiatives and customer service enhancements, operating expenses increased by only 1.9%, significantly below income growth.”
