1 Pound

The Netherlands Bank of South Africa was not a central bank but a commercial institution incorporated under Dutch capital, operating branches across the Transvaal and Cape Colony. By 1920 it was already in a consolidating phase — South African banking had been reshaped dramatically in the decade following Union, and several smaller foreign-backed banks were quietly winding down their note-issuing operations around this period.

Bradbury, Wilkinson printed for dozens of colonial and quasi-colonial banks simultaneously from their New Malden works, and the quality of their intaglio work is consistent across the series. P#S632 falls within their standard commercial bank contracts of the early interwar years.