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Shareholding
The fundamental “Mutual Bank” principle is that a “Mutual Bank” is owned by its depositors and the “Mutual Bank” is managed for the benefit of its depositors.

The Mutual Banks Act defines a “Mutual Bank” as “ …a juristic person - a) the members of which - (i) qualify as such by virtue of their being shareholders in that juristic person : and (ii) are entitled to participate in the exercise of control in a general meeting of that juristic person…..”.  

Finbond Group Limited (“FGL”) was Finbond Mutual Bank’s first depositor, capitalising the bank with the required regulatory capital, as imposed by the Registrar of Banks, through the acquisition of permanent Class A shares.  As owner of the Class A Shares within Finbond Mutual Bank FGL is  entitled to 51% of the total member votes of the bank and the other depositors that owns Class B, C and D Shares in Finbond Mutual Bank will have 49% of the total member votes of the bank. All depositors are shareholders in the bank and entitled to vote at general meetings and appoint directors.

Each and every depositor can therefore proudly say of Finbond Mutual Bank “It’s My Bank” as Finbond Mutual Bank is owned by and managed exclusively for the benefit of its depositors.

Finbond Mutual Bank is  an authorised financial services provider (FSP No.: 44907) and  registered credit provider (NCR Reg. No.: NCR CP 6172)
Finbond Mutual Bank is regulated by and registered with the South African Reserve Bank  (SARB Reg. No.: 01102)
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