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Grindrod Bank

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Grindrod Bank
Company typePrivate
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)
WebsiteHomepage

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

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

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]

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:[5]

  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. ^ [1] 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. ^ 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". Archived from the original on 2010-04-18. Retrieved 2010-11-08.
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