CARD-HOLDER ACCOUNTS
Grindrod offers clarity on Sassa profit
Remgro, which has a 23% interest in the bank’s holding company Grindrod, is one of five big shareholders
17 March 2017 - 07:24
Grindrod Bank receives about R2.50 for every South African Social Security Agency (Sassa) card a year, says non executive director Pieter Uys. The profit on the Sassa accounts was about R35m a year, he said on Thursday. Uys, a Remgro director, said Grindrod Bank did not cross-sell banking services to the holders of its 10.5-million Sassa accounts. Remgro, which has a 23% interest in the bank’s holding company Grindrod, is one of five big shareholders.
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.