Access Bank South Africa
Access Bank South Africa, formerly Grobank Limited, is a commercial bank in South Africa. It is licensed by the Reserve Bank of South Africa, the central bank and national banking regulator.
The bank began commercial operations in June 2021, following the acquisition of a retail commercial banking license. In 2024, the bank acquired Bidvest Bank to continue its expansion in South Africa.
History
Bank of Athens started operations in 1947. In October 2018, Grobank Limited concluded the acquisition of 99.81 percent shareholding in Bank of Athens. The bank rebranded to Grobank Limited and focused its activities to lending to the agricultural sector.In March 2021, Access Bank Group paid an estimated US$60 million to acquire a controlling interest in Grobank Limited. Access Bank went further and obtained regulatory approval to rebrand Grobank to Access Bank South Africa and to convert to a retail commercial bank. It opened to customers under those new terms in June 2021.
In December 2024, the bank acquired Bidvest Bank to enhance Access Bank’s growth in South Africa. Bidvest Bank had 140 retail locations which will increase Access banks retail network in South Africa.