Asset Management
 

COMPANY PROFILE

Grindrod Bank Limited is a registered Financial Services and Credit Provider, regulated by the South African Reserve Bank. 

Established in 1994 as a boutique property merchant bank, Grindrod Bank has matured into a competitive niche bank backed by the highly successful JSE-listed shipping and logistics company, Grindrod Limited.
 
Timeline
Year  
1994 Bank licence granted
1995 Bank capital R25 million
1996 Deposits reach R100 million
Advances reach R56 million
1998 Increase capital to R120 million and Grindrod Limited shareholding increases to 50%
2000
 
Deposits reach R500 million
Advances reach R385 million
2003
 
Establishment of office in Johannesburg
Purchase of Preference Share investment book and team from Brait
 
2006
 
Grindrod Limited acquires 100% of Marriott Merchant Bank
 Marriott Merchant Bank changes name to Grindrod Bank
2007
 
 
 
 
 
 
 
 
 
Capital increased to R250 million
Deposits reach R1 billion
Advances reach R850 million
Sale of 12% of share capital to two Black Empowerment Groups
Establishment of Invoice Discounting business
Purchase of Private Client business from Old Mutual
Asset Management licence granted
Purchase Norton Derivatives (Pty) Ltd
Net-1 outsourcing agreement concluded
Establishment of Cape Town offices
 
 
2008
 
 
 
 
Registration as Designated Advisor and Sponsor with Johannesburg Securities Exchange
Deposits reach R1.5 billion
Establishment of Property Private Equity Fund
Launch of first CIS Fund (Grindrod Diversified Preference Share Fund)
 
 
2009
 
 
 
 
Capital R280 million
Launch of Grindrod Global Property Income Fund
Advances reach R1.3 billion
Staff Complement - 72
 
Assets under management - R3.7 billion
2010

Diversified Preference Share Fund AUMs reach R250 million


The Bank has five primary areas of activity:

Treasury
Lending (Property and Receivables Finance)
Corporate Finance
Asset Management - including Private Clients,Institutional Fund Management Investment Products
Retail

Across these divisions are offered highly competitive financial products & instruments, including some of the most attractive deposit rates in the market.
With an added focus on Specialised Property Finance, personalised Private Client services and a variety of high-return Investment Products, Grindrod Bank is positioned to play a significant role in relationship-based banking.

With operations in Durban, Cape Town and Johannesburg, the Bank delivers personal and tailored financial services across the country, with a proven ability to grow it’s client asset base.