With GBS Mutual bank you can invest or borrow as the bank has continued to provide its clients with secure investment opportunities and competitive loans.
As one of the oldest financial institutions in South Africa part of the strength of the GBS Mutual Bank has been in its conservative approach to its lending activities.
These are confined to mortgage loans against the security of immovable property, asset based finance, personal loans and loans against the security of investments in the Bank. While many other lending facilities may offer potentially higher returns, the associated risks have weighed against these in light of the size of the Bank and have been avoided.
The GBS Mutual Bank employs the services of Pricewaterhouse Coopers as independent auditors and, as with all banks, is strictly regulated by the Bank Supervision Department of the South African Reserve Bank.
GBS has grown to well over R1BN in deposits and continues to pride itself on family values and personal service It’s investment portfolio with predictable fixed income returns.
GBS has its headquarters in Grahamstown, but has three other branches. One is in Port Alfred, one in Port Elizabeth and the third is in Cape Town.
A mutual bank or a mutual savings bank is a bank set up for the benefit of depositors. When you deposit funds in a mutual bank, the purpose of this is to stimulate savings by creating a safe place to deposit money and to offer benefits. Such as interest on deposits and dividends on mutual bank shares, and to invest conservatively for the purpose of generating profits