Die geskiedenis van Nedbank, 1945-1973

• Main Author: Verhoef, Grietjie
• Published: 2015
• Subjects: Nedbank - History
• Online Access: http://hdl.handle.net/10210/13283

D.Litt.et Phil. === When the Second World War came to an end the Chief Agent of the Nederlandsche Bank voor Zuid-Afrika, realized that the future of the bank's operations in South Africa lay in the formation of a South African banking company. In the Netherlands one of the Directeuren, J. Keuning, gave his support to the idea, but the Raad van Commissarisse (Board of Directors) of the bank in Amsterdam was reluctant to allow such a move without prior confirmation that the parent company in Amsterdam would retain full control. The bank in Amsterdam had to revive its activities after it had been forced to cease all transactions from the Netherlands during the war. The South Africa and London offices of the bank continued their operations under the watchful eye of a Controller, J. Dommisse, appointed in South Africa. Further consolidation and expansion of the business of the bank, both in Amsterdam and South Africa, neccessitated further capital. When war broke out the Netherlands economy was unable to provide the necessary capital and Kakebeeke, the Chief Agent in South Africa, urged the formation of a South African company in order to enable the bank to secure working capital in South Africa. The Board in Amsterdam finally decided, in principle, in 1946 to establish a subsidiary company in South Africa and to incorporate the London office with the new South African bank. After a lengthy selection period, the Board in Amsterdam decided on members for the South African Board, making Kakebeeke the Managing Director of the new bank to enable him to act as Chairman of the local Board ...