BBS profits jump as demutualisation gathers pace

In the previous year to March 2014, the Society’s profits declined four percent to P68 million. This year’s profit rise comes as the Society prepares to bolster its revenue by venturing into commercial banking sector with the submission of banking licence application to the central bank slated for October this year.

Board chairman Cross Kgosidiile said he was confident of the long-term prospects of Society, which will be enhanced by the commercialisation of the business, a process that is on track.