Botswana Building Society Bank Limited

History The BBS Limited was established on 13 December 1976 with assets of only P4, 108,000 after three months of business as at 31 March 1977. Its assets consisted of Government stock of P200, 000, advances of P2, 505,000 and cash and investments amounting to P1, 264,800.

The advances comprised 488 mortgages taken over from the then United Building Society of SA, of which BBS Limited had until then operated as a branch. Only nine new home loans were advanced in its first three months of operation. The liabilities consisted of P2, 644,700 in capital, mostly subscribed to by Government in shares, a statutory reserve of a mere P200, and retained earnings of P1, 900. Savings and fixed deposits accounted for P1, 388,700, with creditors and provisions making up the balance.

During its first ten years of operation, BBS Limited was restricted by law to lend only against the security of immovable urban property. The Building Societies Act was amended in April 1986 to permit lending in rural areas. Since then, the number of mortgages in respect of rural properties has grown to 699, representing 12% of our mortgage book, compared with 4, 825 advances in urban areas, as at 31 March 2012.

This reflects the commitment to contribute to the social and economic upliftment of Batswana, most of whom reside in rural areas of the country. Up until 1986, the Society restricted its lending only to residential properties, as a matter of policy. It was only in 1986 that the Society ventured into commercial lending for the first time, and now has on its books 97 advances on commercial undertakings. These represent 8% of the Society’s mortgage book in terms of value.

The exceptional growth of BBS over the past 36 years can best be measured by the phenomenal increase in its reserves, from only P2,100 in March 1977 to just under P203 million in March 2012. The Statutory reserve alone increased from a mere P200 to almost P2, 460 billion over this period. BBS has consistently met its dividend obligations to its shareholders every year over the past 36 years of its existence. A bonus dividend of P57 million was also awarded in 2012.

Mission

To provide attractive financial products and services that create value for our stakeholders.

Vision

To be the regional leader in the provision of financial services solutions.

Values

BBS Limited has 5 values. The BBS values do not just describe the BBS Limited’s culture, but also encapsulate the spirit of Botho. BBS therefore understands that everything it does is about Batswana and hence our values give substance to what we are and why we are proud to serve within our society. BBS is committed to the following key values which are fundamental to our business philosophy.

• Respect – To serve customers with honour and esteem
• Integrity – To be ethical and trustworthy in the way we conduct business
• Innovation – To be creative in the way we do business
• Service Excellence – To be the premier provider of financial services
• Team work – To work together towards a common goal