By Adria Calatayud

Nedbank Group Ltd. (NED.JO) expects first-half earnings per share to increase by between 23% and 28%, it said Thursday.

The South African banking subsidiary of Old Mutual Ltd. (OMU.LN) forecast basic EPS at 1344.4 and 1399 South African rand cents ($1.02-$1.06) compared with 1,093 rand cents for the year-earlier period. Headline EPS will be between 1,350.5 and 1,405.4 rand cents compared with 1,098 South African rand cents for the first half of 2017, according to Nedbank's most recent estimate.

The former Old Mutual PLC initiated a separation into four businesses in 2016.

Write to Adria Calatayud at adria.calatayudvaello@dowjones.com

(END) Dow Jones Newswires

July 26, 2018 04:17 ET (08:17 GMT)

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