Grindrod Bank

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]

Grindrod Bank
Private
IndustryFinancial services
Founded1994
HeadquartersDurban, South Africa
Key people
David Polkinghorne (CEO); Rakesh Garach (CFO); Unathi Mtya (CTO); Andrew Turpin (COO)
ProductsLoans, savings, invoice discounting, investments, deposits, property, corporate finance
Total assetsUS$550+ million (2009)
Number of employees
+190 (2020)
Websitewww.grindrodbank.co.za

Overview

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

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

As of January 2020, Grindrod Bank is 100% owned by Grindrod Financial Holdings. Grindrod Financial Holdings is 96.83% held by Grindrod Limited.

Grindrod Limited is the holding company of a dynamic organisation listed on the Johannesburg Stock Exchange, under the symbol: GND. The two business divisions are namely, Freight Services and Financial Services. With more than 100 years experience in South Africa's logistics, transportation, freight movement and related industries.

Branch network

As of January 2020, Grindrod Bank maintains a branch network in the cities of Johannesburg, Durban, Pretoria and Cape Town at the following locations:[4]

  1. Durban Head Office & Branch - 1st Floor North, 20 Kingsmead Boulevard, Kingsmead Office Park, Durban
  2. Johannesburg Branch - 4th Floor, Grindrod Tower, 8a Protea Place, Sandton, Johannesburg
  3. Pretoria Branch - 1st Floor, Building 21, Oxford Office Park, 3 Bauhinia Street, Centurion, Pretoria
  4. Cape Town Branch - 3rd floor, The Terraces, 25 Protea Road, Claremont, Cape Town

See also

References
  1. List of Licensed Financial Institutions In South Africa Archived 2009-05-24 at the Wayback Machine
  2. Archived 2010-04-17 at the Wayback Machine 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. "Branches of Grindrod Bank". Archived from the original on 2010-04-18. Retrieved 2010-11-08.
This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.