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COMPANY PROFILE Profile |
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COMPANY PROFILE Profile |
PROFILE
VBS Mutual Bank is registered with the South African Reserve Bank and operates under Banking license no 1051. The Bank was established in 1982 and initially operated as the Venda Building Society. It mainly operates in the Limpopo Province. The Head Office of the Bank is in Louis Trichardt. BRANCHESThe
Bank has branches in the following towns
The
Credit Department is located in Thohoyandou. The
Bank offers both loans and investment products. Investments include
savings, notice and fixed deposits and share investments. The Bank is
also a participant in the National Payment system and offers a VISA
branded debit card. The
Bank emphasises excellence in service delivery and sees this as its
gateway to future success.
Key
Aspects of the Vision : A)
RESPONSIBLE We
envisage a Bank that conducts business fairly and observes good
governance, diversity issues and acts within the
framework of the law and regulations. B)
CARING The
Bank must play its role within the different communities in which it does business and bring social upliftment and good citizenship. C)
DELIVERY OF VALUE
All our activities must culminate in profits and growth. D)
PRESTIGE
To be regarded by all Stakeholders with pride and fulfilment.
E)
EMPLOYER
OF CHOICE
To attract and retain good employees.
A)
OUR CLIENTS EXPECTATIONS
To offer superior service, solve customer problems and create
lasting relationships. B)
SHAREHOLDERS AND STAKEHOLDERS EXPECTATIONS
Creation of value is central to the activities of the Bank. C)
STAFF THAT EXCELS
Staff must enjoy work and have fun and have clear cut careers. D)
DELIVERY OF SERVICE
A endeavor to improve and give the best at all times must be made. E)
GROWTH AND PROFITS
The Bank must make profits and grow. VALUES
A)
HONESTY To be honest when handling all affairs of the Bank and Clients as well as being
honest with ourselves. B)
RESPECT
To treat others with respect at all times so that we can be treated
with respect. C)
PASSION To
be passionate about our work and make endeavours to excel in everything we
do. C) CREATIVITY To endeavour at all times to find better ways and better our lot.
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SHAREHOLDING STRUCTURE
The
bank is a mutual bank owned by all shareholders with 99% of those
shareholders coming from the African community. This comprise 66% general
public and 34% PIC. 10
OPERATIONAL COMPETENCIES
10.1 TECHNOLOGY The Bank's client accounts are hosted on a Banking platform provided by EMID Business Solutions. During March 2010 the Bank became a participant in the Interbank Payment System, and rolled out it's own Visa branded Debit card. 10.2 MARKETING The relationship between products and markets is vital for any marketing growth strategy. The bank’s current marketing effort includes the following: *
Brochures and
pamphlets 10.3 SOURCES AND UTILISATION OF FUNDS The bank’s source of funds is depositors and shareholders. The source of funds can be categorized as follows:
Client Share Products* Indefinite period shares 10.4 HUMAN RESOURCES The
organization complies with the Equity Bill through a focused plan. As part
of improving standards the minimum entry requirements for clerical staff
is matric with exemption or an N4 qualification in commercial studies. The Bank strives to comply fully with the King’s Report on Corporate Governance. The Board Of VBS Mutual Bank comprise the following Non Executive Directors *
Prof JH Viljoen - B.Com
Accounting, Hons. B.Com, CA (SA) Executive
Directors 11 BOARD, COMMITTEES AND MANAGEMENT STRUCTURE |
BOARD AND COMMITTEES
MANAGEMENT AND ORGANIZATIONAL STRUCTURE
ASSURANCE MODEL
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