GroCapital Holdings Limited was incorporated in 2017 for the exclusive purpose of acting as the Bank Controlling Company for Grobank (known at the time of acquisition as The South African Bank of Athens).

In September 2018, the Minister of Finance and the Registrar of Banks approved the acquisition of the National Bank of Greece Group’s shares in The South African Bank of Athens (corresponding to 99.81% of the issued share capital of the Bank) and the registration of GroCapital Holdings as a Bank Controlling Company. The Competition Tribunal approved the acquisition.

Subsequently, an offer for the controlling interest in Grobank was made by Access Bank Plc in Nigeria and the controlling interest was attained through a subscription for new shares issued directly by Grobank.

Given the minority interest that GroCapital retains as a passive shareholder in Access Bank SA, it has become a private company, known as GroCapital Holding (Pty) Ltd.