South Africa's Nedbank Q1 non-interest revenue up 18 pct

The lender majority owned by insurer Old Mutual Plc said non-interest revenue came in at 5.3 billion rand ($444 million), while net interest income, or revenue from lending, rose 4.4 percent to 5.8 billion rand.

Nedbank said its credit loss ratio - the proportion of bad debt costs to total loans - fell to 0.80 percent from 0.89 percent a year ago.

Total advances expanded 16 percent to 637.2 billion rand.

Nedbank shares have been largely flat this year, lagging a 12 percent rise by Johannesburg's banking index.

($1 = 11.9404 rand)