Grindrod Bank

From Wikipedia, the free encyclopedia
Jump to: navigation, search
Grindrod Bank
Private
Industry Financial Services
Founded 1994
Headquarters Johannesburg, South Africa
Products Loans, Savings, Checking, Investments, Debit Cards, Credit Cards, Mortgages
Total assets US$550+ million (2009)
Number of employees
72 (2009)
Website Homepage

Grindrod Bank (GRDB) is a commercial bank in the Republic of South Africa. It is licensed as a "locally-controlled financial institution" by the Reserve Bank of South Africa, the national banking regulator.[1]

Overview[edit]

GRDB is a large financial services provider in South Africa, based on assets. It currently employs ninety six(96) people as of 2011. The bank's total asset base was in excess of US$550 million (ZAR:3.7 billion), with shareholders' equity in excess of US$37 million (ZAR:250 million).[2]

History[edit]

The bank was established in 1994 as a subsidiary of Grindrod Limited. The bank maintains headquarters in Durban, with offices in Johannesburg, Pretoria and Cape Town. In 2006, it acquired 100% of the assets of Marriott Merchant Bank. Grindrod Bank focuses on meeting the needs of high-net-worth individuals, large corporations and institutions.[3]

Ownership[edit]

The stock of Grindrod Bank is 100% owned by Grindrod Limited, a large shipping and logistics company, whose shares trade on the Johannesburg Stock Exchange, under the symbol: GND. Grindrod Limited is a large conglomerate, whose businesses include shipping, manufacturing, logistics, transportation, investments and finance.[4]

In July 2014 Bidvest Limited announced that it was looking to acquire 100% of Grindrod Bank and would hope to conclude the deal by the end of 2014. Under the deal, Grindrod Bank would be merged into Bidvest Bank.

Branch network[edit]

As of November 2010, Grindrod Bank maintains a branch network in the cities of Johannesburg, Durban, Pretoria and Cape Town at the following locations:[5]

  1. Durban Head Office & Branch - 1st Floor North, 20 Kingsmead Boulevard, Kingsmead Office Park, Durban
  2. Johannesburg Branch - 1st Floor, Building Three, Commerce Square, 39 Rivonia Road, Sandton, Johannesburg
  3. Pretoria Branch - Building 3, Berkley Office Park, 8 Bauhinia Street, Highveld Techno Park, Pretoria
  4. Cape Town Branch - The Terraces, Block B, Steenberg Office Park, Tokai, Cape Town

External links[edit]

See also[edit]

References[edit]

  1. ^ List of Licensed Financial Institutions In South Africa
  2. ^ [1] Company Profile of Grindrod Bank
  3. ^ Kamhunga, Sure (2010-07-08). "South Africa: Small Banks 'Have Edge Over Larger Rivals'". Business Day (Johannesburg). Retrieved 2017-08-31. 
  4. ^ Kamhunga, Sure (2010-07-08). "South Africa: Small Banks 'Have Edge Over Larger Rivals'". Business Day (Johannesburg). Retrieved 2017-08-31. 
  5. ^ Branches of Grindrod Bank