GBS Mutual Bank Loans- Provider of Asset-Based Finance

Overview

GBS Mutual Bank is a banking institution that has grown in tandem with the country’s social, political and economic history and development. One of the oldest banks operating in South Africa, GBS was established in 1877 and now has branches in P.E., Port Alfred and Cape Town- in addition to the head office situated in Grahamstown. The institution has grown a strong business portfolio with a focus on asset based finance and investments. It has done this by offering mortgage finance for small, commercial and residential purposes and also general asset based finance. GBS currently has assets exceeding R900 million and its lending activities are in adherence with the strict regulation of the Bank Supervision department of the South African Reserve Bank (SARB.)Initially, GBS’s primary objective was to help its members by using mutual contributions and assistance to build, purchase and rehabilitate their homes. It has now also ventured into other financial solutions, such as savings accounts, special savings accounts, super saver accounts, transmission accounts, business transmission accounts, one day notice accounts, 32 day notice accounts, fixed period shares, indefinite period paid up shares, subscription shares, short term fixed deposits, long term fixed deposits, personal loans, investment loans and mortgage bonds.

Part of the strength of the GBS Mutual Bank has been in its conservative approach to its lending activities which 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. Its unique lending approach has ensured competitive returns and a respected reputation in the industry.

GBS Mutual Bank can be contacted on 046 622 7109.