Die geskiedenis van Nedbank : die geskiedenis van die Nederlandsche Bank voor Zuid-Afrika, 1903-1945

• Main Author: Van der Merwe, Johannes Frederik Hermanus
• Published: 2014
• Subjects: Nedbank - History
• Online Access: http://hdl.handle.net/10210/10264

M.Litt. et Phil. (History) === Because of its very close association with the ZAR, the NBZA experienced many problems during the Anglo Boer War. These it managed to solve successfully. Initially the bank was worried that its pro-Boer sentiments and the presence of two imperial banks would anger ill for the NBZA under the new British rule. Yet the bank was prepared to accept the new dispensation and to adapt to the changed circumstances. Its positive and balanced approach yielded results. During the first two months of 1903 forty new accounts were opened in Pretoria. The more the bank's business expanded, the more new agencies could be opened. By 1945 the five agencies existing in 1902 had increased to 22 agencies and 3 sub-agencies. The bank also had two overseas agencies, in London and in Hamburg. The NBZA tried throughout to maintain good relationships with other banks even though its point of view might have differed from theirs. It did not allow itself to be dominated or to be taken in tow by other large banks . Throughout it maintained an independent course but revealed a positive attitude as far as cooperation with other banks was concerned. The role which the NBZA played in the establishment of the South African Reserve Bank cannot be over-emphasised. The NBZA was the only bank in South Africa that was in favour of such an institution. It was also the only bank in favour of South Africa's independent, re-entry to the gold standard. In 1932 the NBZA was the only bank in favour of retaining the gold- standard.