Bidvest Bank

Bidvest Bank Limited

Bidvest Bank Head Quarters in Sandton, South Africa
Type	Subsidiary
Industry	Financial services
Founded	1998 (1998)
Headquarters	Sandton, Johannesburg , South Africa
Key people	Hannah Sadiki (Chief Executive Officer)
Products	Banking services
Operating income	R 1.22 billion (2024)
Net income	R 223.52 million (2024)
Total assets	R 11.98 billion (2024)
Total equity	R 2.38 billion (2024)
Owner	Access Bank South Africa
Number of employees	713 (2024)
Website	www.bidvestbank.co.za

A photograph of a Bidvest Bank branch in Cape Town, South Africa.

Bidvest Bank, (BVBL), is a business bank in the Republic of South Africa. It is licensed by the Reserve Bank of South Africa, the national banking regulator. It is a niche bank specialising in foreign exchange and providing retail banking, vehicle financing and insurance. It was acquired by Access Bank South Africa in 2024.

History

Timeline

In 1998, the Bidvest Group acquired Rennies Foreign Exchange, as part of the acquisition of the Rennies Group.

In 2000, following the issuance of a banking license by the South African Reserve Bank, Rennies Foreign Exchange became Rennies Bank.

In 2007 Rennies Bank rebranded into Bidvest Bank. The bank maintains over 140 retail banking outlets across South Africa. It is still heavily involved in meeting the banking needs of traveling businesspeople and tourists, but has a variety of retail banking products on its menu.

In 2024, the banks then owner, Bidvest Group Limited (BVGL), a South African-based International business conglomerate sold the bank to Nigerian banking Group's South African subsidiary Access Bank South Africa for R2.8billion.

See also

• List of banks in South Africa
• South African Reserve Bank
• Economy of South Africa

External links

• Website of Bidvest Bank Limited
• Website of Reserve Bank of South Africa