When was VBS founded? In 1982, the Venda Building Society (VBS) bank was established by the Venda Homeland Government. Initially the bank was a small financial institution without the bells and whistles of a national bank like FNB, ABSA and Standard Bank.
Is VBS black owned? VBS Mutual Bank – a black owned financial institution – was established in 1982 by the then Venda homeland government – and given the name the Venda Building Society (VBS). Its mandate was initially to operate as an investment scheme with the aim of encouraging and helping communities to invest.