BSB profits reach P76m
Friday, July 04, 2025 | 690 Views |
Big numbers: The BSB recorded triple digit growth in profits off a stronger loan book
The growth was largely attributed to a robust expansion in the asset base and a significant P24.4 million contribution from BSB Insurance Services to the Group’s overall performance.
According to group executives, a recalibrated sales strategy played a pivotal role in this turnaround.
Whilst celebrating milestones in inclusivity, with notably P5 billion awarded to vulnerable groups, the report sounds a 'siren' on a dangerous and growing trend: the ballooning use of micro-procurement. That this method, designed for small-scale, efficient purchases, now accounts for a staggering 25% (P8 billion) of total procurement value is not a sign of agility, but a 'red flag'. The PPRA’s warning is unequivocal and must be...