NBS (previously known as Natal Building Society) was one of the largest Independent
bank
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 ...
s in
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 countri ...
before it went through a series of mergers starting in 1998 to become part of
Nedbank by 2004. It was headquartered in
Durban
Durban ( ) ( zu, eThekwini, from meaning 'the port' also called zu, eZibubulungwini for the mountain range that terminates in the area), nicknamed ''Durbs'',Ishani ChettyCity nicknames in SA and across the worldArticle on ''news24.com'' from ...
.
History
The Natal Building Society (NBS) was established as a building society in 1882.
In 1998, NBS merged with ''Boland Bank'' to form ''NBS Boland''. The Managing Director at that time was ''John Graham Maxwell''. In 1999, ''NBS Boland'' merged with ''B.o.E. Holdings Limited''. In 2002, B.o.E. Holdings Limited was merged with
Nedcor
Nedbank Group is a financial services group in South Africa offering wholesale and retail banking services as well as insurance, asset management, and wealth management. Nedbank Limited is a wholly owned subsidiary of Nedbank Group.
Nedbank's ...
.
In 2002, The NBS, Cashbank and PEP Bank divisions of BoE were incorporated into Peoples Bank, the subsidiary of
Nedbank. and was fully integrated by 2004.
See also
*
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 subsid ...
*
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 ...
*
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 condit ...
References
External links
Website of Nedbank South Africa* Ex-NBS employees on https://www.facebook.com/groups/4190212227/
{{Authority control
Banks of South Africa
Banks established in 1882
Companies based in Durban
1882 establishments in the Colony of Natal