Grindrod Bank
# Grindrod Bank

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

## 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).

## 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.

## 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:

* 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

## Acquisition by African Bank

In May 2022, South African media reported that African Bank had offered ZAR:1.5 billion (approx. USD:97 million) to acquire Grindrod Bank and its holding company Grindrod Financial Holdings. The deal requires both shareholder and regulatory approvals.

