Grindrod Bank

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

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 . 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

External links[]

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