holding of the latter drop to 25 percent. NOB merged with Bankierscompagnie NV in 1968 and by the 1971 was called Bank Mees and Hope. After a further share issue in 1968, the Mees en Hope's share in NBSA dropped to 20 percent. In July 1969, a decision to sell the remaining 20 percent was agreed too and the company became 100% South African-owned after the Mees en Hope Groep NV received payment for its remaining shares between August 1969 and 1 June 1970. The South African counterpart was completely independent. The Dutch counterpart of the bank no longer exists. Syfrets SA and Boland Bank listed on the Johannesburg Stock Exchange in 1969. In 1971, NBSA changed its name to Nedbank. Nedbank Group formed from the merger of Syfrets SA, Union Acceptances and Nedbank in 1973. In 1986, Old Mutual became the major shareholder (53%) of Nedbank. In 1992, Syfrets, UAL Merchant Bank, and Nedbank Investment Bank Division merged to become Nedcor Investment Bank (NIB). Old Mutual, Nedcor's holding company, was demutualised and listed on the London Stock Exchange in 1999. The new Nedcor Group was formed on 1 January 2003, combining Nedcor, BoE, Nedcor Investment Bank, and Cape of Good Hope Bank into one legal entity. The Nedcor Group was renamed the Nedbank Group on 6 May 2005. In August 2009, Nedbank acquired the 49.9% of Imperial Bank South Africa that it did not own, so Imperial Bank South Africa is wholly owned by Nedbank. In October 2014, Nedbank acquired a 20% stake in Ecobank, converting its $285 million claim in Ecobank into equity. Nedbank Group Nedbank Group is the holding company of all Nedbank's businesses, subsidiaries, associates and affiliates. The Nedbank Group's major subsidiary and associate companies include the following: Local subsidiaries Nedbank Limited Syfrets Securities Limited Nedgroup Investments Proprietary Limited Nedgroup Private Wealth Stockbrokers Proprietary Limited Nedgroup Collective Investments (RF) Proprietary Limited Nedgroup Securities Proprietary Limited Nedgroup Private Wealth Proprietary Limited Nedbank Group Insurance Holdings Limited The Board of Executors Dr Holsboer Benefit Fund Foreign subsidiaries and associates Ecobank Transnational Incorporated MBCA Bank Limited (Zimbabwe) Nedbank (Eswatini) Nedbank (Lesotho) Nedbank Namibia Limited Nedbank Limited (Malawi) – Until December 2019 Nedbank (Mozambique) Nedbank Private Wealth Limited (Isle of Man) NedEurope Limited (Isle of Man) Nedgroup International Holdings Limited Nedgroup Investments Africa (Mauritius) Ownership Nedbank shares are traded on the JSE under the share code NED and on the