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Nedbank Private Wealth, the multi-award-winning private bank and wealth manager, has announced strong growth in new business flows for 2013 and the first quarter of 2014.
Business flows in 2013 saw lending levels up by almost 10 per cent, deposits up 12 per cent, and both assets under management and administration up 20 per cent. The business also reported continuing positive growth in the number of new clients which surpassed targeted levels by 15 per cent.
Greg Horton, managing director at Nedbank Private Wealth, said: “It is certainly very pleasing to see such strong growth rates across all areas of our operations and praise is due not only to our staff, but also to both our clients and professional intermediaries who continue to sing our praises and drive the high level of new client referrals we’re experiencing.” Horton reported that total holdings on the business’s award-winning integrated banking and investment platform, Focus, were continuing to grow strongly. As at the end of the first quarter of 2014, holdings had increased an impressive 11 per cent year-on-year rising to £2.3 billion and reflecting a new record high.
Horton sees the driver for this growth as being the bank’s consistent profile of success and excellent reputation for integrity and exemplary client service: “We have never lost sight of the fact we exist to serve our clients, not ourselves, and these are exciting times as our new brand is now becoming well and truly established in our markets. Consistent upward momentum has been firmly established and we anticipate strong profitable growth in 2014, as the business begins to see the benefits from a growing footprint across our various geographical locations.”
With the vast majority of business emanating from existing client and professional intermediary referrals, Horton points to the results recently received from the business’s 2013 independently assessed client survey: “This was undertaken by the UK’s leading customer survey specialist, The Leadership Factor, and in terms of their overall Client Satisfaction IndexTM, it places our business in the top 10 per cent of all businesses across the UK. We have also been advised that we continue to hold the UK record for speed of response to clients, an achievement we have held for the past five years. ”
To add the icing to an already tasty cake, earlier this year Nedbank Private Wealth achieved the maximum three star designation, rated “extraordinary”, from the UK Best Companies Accreditation. It is one of only 123 companies from all sectors and sizes across the entire UK to obtain this coveted accolade. In addition, for a remarkable straight tenth year, the business secured a listing within the Sunday Times sponsored Best 100 Small Companies to Work For.
Another impressive performance from this multi-award winning business whose reputation as a bank focused on applying sound morals continues to grow.
