Old Mutual, which operates insurance, banking and asset management businesses in over 30 countries, made an adjusted operating profit of £845m in the first six months of the year, up from £734m a year ago, it said on Friday.
The improvement was driven in part by a 31% increase in profit at Nedbank, as well as £82m in cost saving.
Old Mutual chief executive Julian Roberts said the group, which last year made a failed attempt to sell Nedbank to HSBC, was in no hurry to offload the unit.
"I'm in no rush. We're quite happy to have that for quite some time to come," he told Reuters Insider Television.