RESULTS AND GOVERNANCE
GBS Mutual Bank is governed by the Mutual Banks Act, 1993, and regulated by the Prudential Authority in the South African Reserve Bank (certificate number 1002). We are an authorised financial services provider, overseen by the Financial Services Board (licence number 1115) and regulated by the National Credit Regulator (certificate NCR CP 23).
We are governed by a board of directors comprising both non-executive and executive members, with a majority of non-executive members to ensure independence of thought. Non-executive directors are elected at Annual General Meetings and serve a term of three years.
A comprehensive report on corporate governance and Board committees is included in the Annual Audit Financial Reports available further below.
Further details on relevant legislation and regulatory bodies can be obtained from the following resources:
- The South African Reserve Bank
- Mutual Banks Act
- The National Credit Act
- The Code of Banking Practice
- The Financial Intelligence Centre Act (FICA)
- Financial Advisory and Intermediary Services (FAIS)
- Financial Sector Conduct Authority
- The Ombudsman for Banking Services
- The Ombudsman for Financial Services Providers (FAIS)
Download our latest audited financial statements: