Faster way of reading csv to grid

I have following in Windows Forms .NET 3.5

It works fine for csv with records less than 10,000 but is slower for records above 30,000.
Input csv file can can any records between 1 - 1,00,000 records

Code currently used :

/// 
        /// This will import file to the collection object
        /// 
        private bool ImportFile()
        {
            try
            {

                String fName;
                String textLine = string.Empty;
                String[] splitLine;

                // clear the grid view

                accountsDataGridView.Rows.Clear();

                fName = openFileDialog1.FileName;

                if (System.IO.File.Exists(fName))
                {
                    System.IO.StreamReader objReader = new System.IO.StreamReader(fName);

                    do
                    {
                        textLine = objReader.ReadLine();
                        if (textLine != "")
                        {
                            splitLine = textLine.Split(',');
                            if (splitLine[0] != "" || splitLine[1] != "")
                            {
                                accountsDataGridView.Rows.Add(splitLine);
                            }
                        }
                    } while (objReader.Peek() != -1);
                }
                return true;
            }
            catch (Exception ex)
            {
                if (ex.Message.Contains("The process cannot access the file"))
                {
                    MessageBox.Show("The file you are importing is open.", "Import Account", MessageBoxButtons.OK, MessageBoxIcon.Warning);
                }
                else
                {
                    MessageBox.Show(ex.Message);
                }

                return false;
            }

        }

Sample Input file :


18906,Y

18908,Y

18909,Y

18910,Y

18912,N

18913,N

Need some advice on optimizing this code for fast reads & view in grid.

What's the use of presenting even 5,000 records to the user? Do you expect a user to scroll to row 4711, look at "18912,N", and say "Strange, why wasn't there a '12345,N' in row 1234?", or "Interesting, now let's see where the corresponding '54321,X" is to be found!"?

Your GUI should help the user to specify the comparatively small set(s) of records pertinent to his current problem/question; even if working with the data means "check every item in turn", it would be more human to present the records in small batches.

All this points to using your file as a database table bound to the controls of your GUI; then the problem of "reading a .csv fast" completely vanishes.

StackExchange Code Review Q#20145, answer score: 8