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Bidvest Bank
Bidvest Bank, (BVBL), is a business bank in the Republic of South Africa. It is licensed as a "locally-controlled bank" by the Reserve Bank of South Africa, the national banking regulator. It is a niche bank specialising in foreign exchange and providing retail banking, vehicle financing and insurance. History In 1998, the Bidvest Group acquired ''Rennies Foreign Exchange'', as part of the acquisition of the Rennies Group. In 2000, following the issuance of a banking license by the South African Reserve Bank, Rennies Foreign Exchange became ''Rennies Bank''. In 2007 Rennies Bank rebranded into ''Bidvest Bank''. The bank maintains over 140 retail banking outlets across South Africa. It is still heavily involved in meeting the banking needs of traveling businesspeople and tourists, but has a variety of retail banking products on its menu. Overview The bank is a 100% subsidiary of its parent company, Bidvest Group Limited (BVGL), a South African-based International business ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Sandton
Sandton is an upscale commercial and residential district north of the city of Johannesburg, South Africa. It forms part of the City of Johannesburg Metropolitan Municipality. The name of the city came from the combination of two of its suburbs, Sandown and Bryanston. In 1969, Sandton was promulgated as a municipality in its own right, but lost its status as an independent city after the re-organisation of South African local governments after Apartheid ended. History Early settlers Archaeological findings suggest the area, which Sandton comprises today, had originally been occupied by various indigenous groups, before European settlement, most notably the Tswana and, to a lesser extent, Sotho people. The remains of an Iron Age smelter was discovered in Lone Hill, a suburb of northern Sandton. One of the first Voortrekker parties to settle in the area were the Esterhuysen family on the farm Zandfontein (Afrikaans and Dutch for ''Sandy Spring'' or ''Sand Fountain''). A monumen ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bidvest Bank 2015
The Bidvest Group Limited also known as Bidvest Group or Bidvest is a South African services, trading, and distribution company. History Bidvest was founded in 1988 by Brian Joffe and listed on the Johannesburg Stock Exchange in 1990. The Bidvest Group Limited has a corporate office in Johannesburg, South Africa, and employs approximately 132,870 people. The Bidvest Group Limited board comprises eleven members. In March 2019 Bidvest named current Executive Director Mpumi Madisa as CEO-designate. After the retirement of Lindsay Ralphs on 30 September 2020, Mpumi Madisa assumed the role of Bidvest CEO. See also *Bidvest Insurance *Bidvest Bank *Steinhoff International *Woolworths Holdings Limited Woolworths Holdings Limited () is a South African multinational retail company that owns the South African retail chain Woolworths, and Australian retailers David Jones and Country Road Group. Woolworths, however, has no association to Austr ... References {{Authority cont ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Banks Established In 2000
A bank is a financial institution that accepts deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital markets. Because banks play an important role in financial stability and the economy of a country, most jurisdictions exercise a high degree of regulation over banks. Most countries have institutionalized a system known as fractional reserve banking, under which banks hold liquid assets equal to only a portion of their current liabilities. In addition to other regulations intended to ensure liquidity, banks are generally subject to minimum capital requirements based on an international set of capital standards, the Basel Accords. Banking in its modern sense evolved in the fourteenth century in the prosperous cities of Renaissance Italy but in many ways functioned as a continuation of ideas and concepts of credit and lending that had their roots in the anc ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Banks Of South Africa
A bank is a financial institution that accepts deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital markets. Because banks play an important role in financial stability and the economy of a country, most jurisdictions exercise a high degree of regulation over banks. Most countries have institutionalized a system known as fractional reserve banking, under which banks hold liquid assets equal to only a portion of their current liabilities. In addition to other regulations intended to ensure liquidity, banks are generally subject to minimum capital requirements based on an international set of capital standards, the Basel Accords. Banking in its modern sense evolved in the fourteenth century in the prosperous cities of Renaissance Italy but in many ways functioned as a continuation of ideas and concepts of credit and lending that had their roots in the anc ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economy Of South Africa
The Economy of South Africa is the third largest in Africa and the most industrialized, technologically advanced, and diversified economy in Africa overall. South Africa is an upper-middle-income economy, one of only eight such countries in Africa. Following 1996, at the end of over twelve years of international sanctions, South Africa's Gross Domestic Product (nominal) almost tripled to a peak of US$416 billion in 2011. In the same period, foreign exchange reserves increased from US$3 billion to nearly US$50 billion, creating a diversified economy with a growing and sizable middle class, within two decades of ending apartheid. Although the natural resource extraction industry remains one of the largest in the country with an annual contribution to the GDP of US $13.5 billion, the economy of South Africa has diversified since the end of apartheid, particularly towards services. In 2019, the financial industry contributed US$41.4 billion to South Africa's GDP. In 2021, South Africa ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
List Of Banks In South Africa
This is a list of commercial banks in South Africa Banks Locally controlled banks * Absa Group Limited * African Bank Limited * Bidvest Bank Limited * Capitec Bank Limited * Discovery Limited * First National Bank * FirstRand Bank - A subsidiary of First Rand Limited * Grindrod Bank Limited * Imperial Bank South Africa * Investec Bank Limited * Mercantile Bank Limited * Nedbank Limited * Sasfin Bank Limited * Standard Bank of South Africa * Ubank Limited * TymeBank Co-operative banks * Ditsobotla Primary Savings and Credit Co-operative Bank * OSK Koöperatiewe Bank Beperk Foreign-controlled banks * Al Baraka Banking Group * Habib Overseas Bank Limited * Habib Bank AG Zurich * Access Bank South Africa Branches of foreign banks * Bank of Baroda * Bank of China * Bank of Taiwan * BNP Paribas * Calyon Corporate and Investment Bank * China Construction Bank Corporation * Citibank N.A. * Deutsche Bank AG * JPMorgan Chase Bank * Société Générale * Standar ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Conglomerate (company)
A conglomerate () is a multi-industry company – i.e., a combination of multiple business entities operating in entirely different industries under one corporate group, usually involving a parent company and many subsidiaries. Conglomerates are often large and multinational. United States The conglomerate fad of the 1960s During the 1960s, the United States was caught up in a "conglomerate fad" which turned out to be a form of speculative mania. Due to a combination of low interest rates and a repeating bear-bull market, conglomerates were able to buy smaller companies in leveraged buyouts (sometimes at temporarily deflated values). Famous examples from the 1960s include Ling-Temco-Vought,. ITT Corporation, Litton Industries, Textron, and Teledyne. The trick was to look for acquisition targets with solid earnings and much lower price–earnings ratios than the acquirer. The conglomerate would make a tender offer to the target's shareholders at a princely premium to the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
South African Reserve Bank
The South African Reserve Bank (SARB) is the central bank of South Africa. It was established in 1921 after Parliament passed an act, the "Currency and Bank Act of 10 August 1920", as a direct result of the abnormal monetary and financial conditions which World War I had brought. The SARB was only the fourth central bank established outside the United Kingdom and Europe, the others being the United States, Japan and Java. The earliest suggestions for the establishment of the Central Bank in South Africa date back to 1879. A select committee, of ten members of Parliament, was established on 31 March 1920 to examine the benefits to the national interest of the establishing of the central bank. Following on the recommendations of the committee, the South African Reserve Bank opened for business on 30 June 1921, making it the oldest central bank in Africa. The first banknotes were issued to the public by the Bank on 19 April 1922. Set of ZAR notes 2012 to present R 104 000 000 000.00 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Retail Banking
Retail banking, also known as consumer banking or personal banking, is the provision of services by a bank to the general public, rather than to companies, corporations or other banks, which are often described as wholesale banking. Banking services which are regarded as retail include provision of savings and transactional accounts, mortgages, personal loans, debit cards, and credit cards. Retail banking is also distinguished from investment banking or commercial banking. It may also refer to a division or department of a bank which deals with individual customers. In the U.S., the term commercial bank is used for a ''normal'' bank to distinguish it from an investment bank. After the Great Depression, the Glass–Steagall Act restricted normal banks to banking activities, and investment banks to capital market activities. That distinction was repealed in the 1990s. Commercial bank can also refer to a bank or a division of a bank that deals mostly with deposits and loans from co ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Foreign Exchange Market
The foreign exchange market (Forex, FX, or currency market) is a global decentralized or over-the-counter (OTC) market for the trading of currencies. This market determines foreign exchange rates for every currency. It includes all aspects of buying, selling and exchanging currencies at current or determined prices. In terms of trading volume, it is by far the largest market in the world, followed by the credit market. The main participants in this market are the larger international banks. Financial centers around the world function as anchors of trading between a wide range of multiple types of buyers and sellers around the clock, with the exception of weekends. Since currencies are always traded in pairs, the foreign exchange market does not set a currency's absolute value but rather determines its relative value by setting the market price of one currency if paid for with another. Ex: USD 1 is worth X CAD, or CHF, or JPY, etc. The foreign exchange market works thro ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Reserve Bank Of South Africa
The South African Reserve Bank (SARB) is the central bank of South Africa. It was established in 1921 after Parliament passed an act, the "Currency and Bank Act of 10 August 1920", as a direct result of the abnormal monetary and financial conditions which World War I had brought. The SARB was only the fourth central bank established outside the United Kingdom and Europe, the others being the United States, Japan and Java. The earliest suggestions for the establishment of the Central Bank in South Africa date back to 1879. A select committee, of ten members of Parliament, was established on 31 March 1920 to examine the benefits to the national interest of the establishing of the central bank. Following on the recommendations of the committee, the South African Reserve Bank opened for business on 30 June 1921, making it the oldest central bank in Africa. The first banknotes were issued to the public by the Bank on 19 April 1922. Set of ZAR notes 2012 to present R 104 000 000 000.00 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Republic Of South Africa
South Africa, officially the Republic of South Africa (RSA), is the southernmost country in Africa. It is bounded to the south by of coastline that stretch along the South Atlantic and Indian Oceans; to the north by the neighbouring countries of Namibia, Botswana, and Zimbabwe; and to the east and northeast by Mozambique and Eswatini. It also completely enclaves the country Lesotho. It is the southernmost country on the mainland of the Old World, and the second-most populous country located entirely south of the equator, after Tanzania. South Africa is a biodiversity hotspot, with unique biomes, plant and animal life. With over 60 million people, the country is the world's 24th-most populous nation and covers an area of . South Africa has three capital cities, with the executive, judicial and legislative branches of government based in Pretoria, Bloemfontein, and Cape Town respectively. The largest city is Johannesburg. About 80% of the population are Black South Africans ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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