Volkskas Limited
Encyclopedia
Volkskas was a South Africa
n bank founded in 1934 as a cooperative loan bank
, becoming a commercial bank
in 1941. In 1991, by which time it had become South Africa's largest Afrikaner
bank, Volkskas merged with United Bank, Allied Bank and Trust Bank to form Amalgamated Banks of South Africa
.
The bank issued banknote
s for circulation in South West Africa
between 1949 and 1959 from its Windhoek
branch.
South Africa
The Republic of South Africa is a country in southern Africa. Located at the southern tip of Africa, it is divided into nine provinces, with of coastline on the Atlantic and Indian oceans...
n bank founded in 1934 as a cooperative loan bank
Cooperative banking
Cooperative banking is retail and commercial banking organized on a cooperative basis. Cooperative banking institutions take deposits and lend money in most parts of the world....
, becoming a commercial bank
Commercial bank
After the implementation of the Glass–Steagall Act, the U.S. Congress required that banks engage only in banking activities, whereas investment banks were limited to capital market activities. As the two no longer have to be under separate ownership under U.S...
in 1941. In 1991, by which time it had become South Africa's largest Afrikaner
Afrikaner
Afrikaners are an ethnic group in Southern Africa descended from almost equal numbers of Dutch, French and German settlers whose native tongue is Afrikaans: a Germanic language which derives primarily from 17th century Dutch, and a variety of other languages.-Related ethno-linguistic groups:The...
bank, Volkskas merged with United Bank, Allied Bank and Trust Bank to form Amalgamated Banks of South Africa
Absa Group Limited
The Absa Group Limited is the largest consumer bank in South Africa.- Overview :Absa is based in Johannesburg and listed on the JSE Limited and is one of South Africa's largest financial institutions...
.
The bank issued banknote
Banknote
A banknote is a kind of negotiable instrument, a promissory note made by a bank payable to the bearer on demand, used as money, and in many jurisdictions is legal tender. In addition to coins, banknotes make up the cash or bearer forms of all modern fiat money...
s for circulation in South West Africa
South West Africa
South-West Africa was the name that was used for the modern day Republic of Namibia during the earlier eras when the territory was controlled by the German Empire and later by South Africa....
between 1949 and 1959 from its Windhoek
Windhoek
Windhoek is the capital and largest city of the Republic of Namibia. It is located in central Namibia in the Khomas Highland plateau area, at around above sea level. The 2001 census determined Windhoek's population was 233,529...
branch.