The GBS Mutual Bank opened its doors for business as the Grahamstown Building Society in 1877 and we are thus proudly one of the oldest banks in South Africa. The Bank has built its reputation and business on a solid foundation of honesty, integrity and an ethos which places value in serving its clients and members.

The bank prioritises capital and liquidity over profit. Capital is prudently managed in terms of a Board mandate comfortably in excess of the minimum statutory requirement of 10%. Liquidity is managed in terms of carefully agreed parameters well in excess of statutory requirements and includes substantial investments in the inter-bank market.

Our model is to attract retail term deposits in the maturity range of 12 months to 5 years, mainly from mature investors, and a range of shorter-term deposits from retail and business investors.

Loans and advances are mostly secured with about two thirds of loans being on residential and commercial mortgages and the remainder on rental and instalment finance agreements, the majority of which are partly secured by recourse agreements with brokers.

We have no majority shareholders: share depositors or members (who own the equity of the bank) are allowed to hold a stipulated maximum number of shares, as determined periodically by the board of directors. Member deposits total in excess of R250 million.

GBS has consistently shown positive growth on the balance sheet and has assets exceeding R1.6 billion and qualifying reserves in terms of the Mutual Banks Act in excess of R150 million.