Bidvest Bank is an entrepreneurial bank that was born to change the way people and businesses view financial solutions; a leading second tier bank and a subsidiary of The Bidvest Group Limited.
Their strategy includes diversifying a historically forex- and fleet-focused customer base to one of business and personal banking services. This diversification strategy, combined with a prudent lending philosophy resulted in the recent upgrade, by Moody’s Financial Services, of Bidvest Bank’s long-term national scale rating from A1 to Aa2, an increase of two notches.
As both a South African bank and a subsidiary of The Bidvest Group Limited, Bidvest Bank is a dynamic business that seeks opportunities and market gaps that ‘traditional’ banking often neglects or ignores. It abides by legislation without ever letting processes, resources or systems restrict them from satisfying our customers.
Moody’s Investor Services has acknowledged our efforts to diversify our income, and in June 2017, upgraded Bidvest Bank to Aa2.za/P-1.za with a negative outlook. This makes them the highest-rated among South Africa’s second-tier banks.
Broad-Based Black Economic Empowerment is an investment that is important for the survival of the country’s economy. As responsible citizens, we should positively contribute and participate in South African society and businesses, from small or medium enterprises to all levels of corporations. Bidvest is a Level 4 B-BBEE contributor ad is committed to transformation and the principles of B-BBEE.
Fleet and Asset Finance
Bidvest Bank is one of the leaders in business vehicle finance in South Africa. Whether you want to buy, sell, finance or lease your company vehicles, the total fleet finance solution will assist in determining the most effective long-term solutions and provide expertise for all facets of your fleet.
With fleet management as one of the core vehicle finance competencies, the service offering includes:
Finance
- Full maintenance leasing
- Operating rentals
- Instalment sale/financial lease
- Sale and leaseback – This finance option will allow you to generate capital by converting your existing owned fleet to a more tax-efficient leased fleet.
Maintenance
- Maintenance plans
- Managed maintenance
Value-added services
- Relief vehicles through Budget Car Rental
- Roadside and medical assistance through Club McCarthy
- Management of structured company car schemes
- Vehicle sourcing and procurement
Vehicle insurance through Bidvest Financial Services
- Corporate Motor and Asset insurance cover
- Tyre insurance
- Chip and dent insurance
Specialised Vehicles and Equipment
- Material handling
- Special equipment – terminal tractors and mobile cranes
Business Banking
As a bank that started from a successful business, Bidvest Bank has extra insight into what it takes to run one.
They understand that it’s impossible for every bank to be right for every business, which is why they have chosen to focus on providing their business customers with business banking services that they know they can successfully deliver:
– Transactional banking
– Merchant services
– Foreign exchange
– Asset-based finance
Bidvest Bank also provides its business customers with comprehensive savings and investments and trade services product offers.
If your business has been in operation for at least two years and has an annual turnover of R10 million and more, the business banking can be done.
Personal Banking
Bidvest Bank services a wide range of individuals with a diverse set of needs. From affordable banking and investment accounts at competitive interest rates, to personalised foreign exchange services and international money transfers.
At DTC we understand the complexities of the various funding and the unique application criteria for each. We have assisted thousands of entrepreneurs through the application process to access funding for businesses, and we can assist you with the same.
Contact us for more information on funding through Bidvest Bank.