Grindrod Bank CEO on why merging with African Bank wasn’t a shotgun wedding - will it last?

Posted on 06/08/2022

African Bank has bought Grindrod Bank for R1.5bn, and if you understand the players in the banking sector, you’ll know that this merger doesn’t necessarily make sense on face value. The two banks could not be further apart in their business models: one focused on unsecured lending in the retail sector, and the other a specialised corporate and investment bank. We chat to David Polkinghorne, Grindrod Bank CEO, in this interview as he takes us on the journey. What we thought may have been a shotgun wedding turns out to be a measured approach to what we hope will be a sustainable marriage.