Banks rake P800m profits in six months

Figures released by the Bank of Botswana (BoB) this week indicate that the good times have returned to the local commercial banking sector following several lean years owing to a fee moratorium and tight spreads. The six-month profits for banks are nearly 64% higher than the corresponding period last year and hold the promise of a record performance by the sector by the end of the year.

The only times half-year profits for banks were higher than this year was in 2013 (P941.4 million) and 2012 (P864.9 million).