BBS profit down by 4%

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Mortgage lender Botswana Building Society (BBS) says its profit for the year ended 31 March 2009 fell by four percent to P66 million due to the economic slowdown and inflationary pressures.

Despite the profit knock, the Society's mortgage book grew by 20 percent while operating income was P135 million, an increase of P13 million on the previous year.

BBS Managing Director Pius Molefe said the reduction on profitability was caused by an increase in provisions as a result of difficult trading conditions emanating from the general slowdown in the economy.

Editor's Comment
Batswana need to do better to stop FMD

It is a clear signal that the government’s purse is empty and that our own behaviour has left veterinary officials fighting with one hand tied behind their backs. We have been here before. During COVID-19, many of us thought we knew better. We ignored simple rules, we carried on as if the danger was someone else’s problem, and the virus took lives and left our economy on its knees. We are still broke from that experience. Yet now, with FMD...

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