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Nedbank Group

JSE-listed South African banking group formerly majority owned by Old Mutual and unbundled from the insurer in stages.

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Old Mutual headquarters at 1 Mutual Place in Johannesburg
Old Mutual’s headquarters at 1 Mutual Place in Johannesburg, photographed on 1 June 2018. Photo: Henk Viljoen · Source · Creative Commons Attribution-ShareAlike 4.0 International

Nedbank Group is a separately listed South African banking group. [6]

History

Old Mutual became Nedcor’s majority shareholder in 1986. [1][2]

Old Mutual unbundled most of the holding in 2018 and a further 12.2% in 2021. [3][4]

Current relationship

Old Mutual was not named among Nedbank’s ten largest shareholder managers at 30 June 2026. [6]

That table does not establish a zero holding across every Old Mutual-managed fund. [6]

Frequently asked questions

Does Old Mutual control Nedbank?

No current controlling position is disclosed in the cited 2026 shareholder table. [4][6]

When did the main separation occur?

Old Mutual distributed most of its Nedbank holding in October 2018. [3][5]

Is Nedbank separately listed?

Yes. Nedbank Group trades under NED on the JSE and A2X. [6]

Key milestones

  1. Old Mutual acquired a Nedbank shareholding. [1]

  2. Old Mutual became the majority shareholder in Nedcor. [1][2]

  3. Most of the holding was unbundled to Old Mutual shareholders. [3][5]

  4. Old Mutual announced the unbundling of another 12.2%. [4]

Related articles

Related institutions

Sources

  1. Old Mutual plc, Corporate brochure 2013: Our history, 2013. Original source. Accessed 2026-11-03. ↩
  2. Old Mutual Limited, Integrated Report 2025, 2026-03-17. Original source. Accessed 2026-11-03. ↩
  3. Old Mutual Limited and Nedbank Group, Nedbank unbundling long-form announcement, 2018-09-26. Original source. Accessed 2026-11-03. ↩
  4. Old Mutual Limited, Unbundling of a portion of the Nedbank shareholding, 2021-06-23. Original source. Accessed 2026-11-03. ↩
  5. Nedbank Group, Our heritage and timeline. Original source. Accessed 2026-11-03. ↩
  6. Nedbank Group, Equity investors: shares issued and shareholding at 30 June 2026, 2026-06-30. Original source. Accessed 2026-11-03. ↩