Grindrod Bank

Grindrod Bank
Company type	Private
Industry	Financial Services
Founded	1994
Headquarters	Durban, South Africa
Key people	David Polkinghorne (CEO); Rakesh Garach (CFO); Unathi Mtya (CTO); Andrew Turpin (COO)
Products	Loans, Savings, Invoice Discounting, Investments, Deposits, Property, Corporate Finance
Total assets	US$550+ million (2009)
Number of employees	+190 (2020)
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

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

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

External links

References

^ List of Licensed Financial Institutions In South Africa Archived 2009-05-24 at the Wayback Machine
^ [1] Archived 2010-04-17 at the Wayback Machine Company Profile of Grindrod Bank
^ Kamhunga, Sure (2010-07-08). "South Africa: Small Banks 'Have Edge Over Larger Rivals'". Business Day (Johannesburg). Retrieved 2017-08-31.
^ "Branches of Grindrod Bank". Archived from the original on 2010-04-18. Retrieved 2010-11-08.

[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] "Branches of Grindrod Bank". Archived from the original on 2010-04-18. Retrieved 2010-11-08.

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v t e Banks of South Africa
Central bank	South African Reserve Bank
Big four commercial banks	Absa First National Bank Nedbank Standard Bank
Investment banks	Investec Rand Merchant Bank
Other	African Bank Bidvest Bank Capitec Bank Development Bank of Southern Africa FirstRand Grindrod Bank Imperial Bank South Africa Land and Agricultural Development Bank of South Africa Postbank Sasfin Bank Ubank
Defunct	20Twenty African Banking Corporation Allied Bank Colesberg Bank NBS Permanent Bank Saambou Trustbank United Bank VBS Mutual Bank Volkskas