Nedbank considers share transactions and buybacks to use $2.5 billion in cash

Nedbank Group Ltd. is considering acquisitions and share buyback plans to use some of its 45.3 billion rand ($2.4 billion) cash, its chief executive said said Jason Quinn.

The South African lender spent 5 billion rand on a share buyback plan last year and acquired Eqstra Investment Holdings Ltd. Nedbank’s core capital — a key measure of capital strength — remained at 13.3% in June, above the board’s target of 12%. Comfortable risk buffers will help the bank grow, Quinn said.