Grindrod Bank has six main areas of activity; namely Corporate and Structured Finance, Private Client Services, Treasury, Investment Products, Specialized property finance, and retail venture entered into with Net-1, a NASDAQ listed technology company.
Sourcing deposits is a key activity of the Treasury division and traditionally the rates offered on deposits are amongst the highest offered in the market. Not being retail focused and with a minimum deposit amount of R50 000, Treasury offers personalized service.
Grindrod Bank operates several independent investment products which give investors superior returns whilst offering excellent security.
With rates that are highly competitive and an investment term of 1 week, Super Rate is ideal for the client with a minimum amount of R100 000 to invest. Super Rate has been officially rated as “AAA” which indicates excellent safety, and exposes the client to the bond market, which is typically the domain of the large financial institutions.
For those investors who prefer to receive dividend income, the bank manages a preference share portfolio which offers guaranteed capital preservation. Notwithstanding the recent announcement in the budget speech relating to taxation of dividends the preference share portfolio offers investors a substantial benefit when compared to interest income. In addition to the investments being guaranteed by leading banks and/or life houses, the investments are available for periods from 30 days upwards. With a minimum investment size of R1 Million, this product is exclusive and not offered to the general public.
Grindrod Bank interacts regularly with independent financial advisors and on a fully transparent and disclosed basis to the investor, will pay trail commissions to these parties. The wide array of products will add value to any diversified portfolio.
Corporate and Structured Finance provides advisory services covering a wide array of activities that include mergers and acquisitions, structuring, financial and property solutions to the corporate community and high net worth individuals. Corporate and Structured Finance assists in JSE related work to listed clients and is a leading Designated Advisor on the Alt-X. With particular knowledge and experience in the property sector, tailor made merchant banking services are designed and provided to clients.
The bank has a specialist lending division focused primarily on the commercial and industrial sector, where it offers flexible financial packages to property investors and developers, including mezzanine and equity finance and Invoice Discounting
Private Client Services, has in excess of R1.1 billion under management and provides bespoke wealth management and fiduciary services to its client base.
Grindrod Bank has
Created a ‘virtual retail’ division using technology sourced from Net-1. This will initially result in a card based wage payment system being rolled out for the under-banked sector of the population
Using highly sophisticated identification technology such as fingerprint recognition and the ability to operate terminals in remote locations