Bank Profits Reach Highest Level Ever

Most Banks Head Quarters are in CBD PIC: MORERI SEJAKGOMO
Most Banks Head Quarters are in CBD PIC: MORERI SEJAKGOMO

The country’s commercial banks enjoyed their most successful year ever in 2018, with their collective profits reaching P1.8 billion by November, the highest since the central bank began counting the numbers.

Even without the December statistics, the levels reached by November were comfortably the local banking sector’s best performance in terms of profitability. After 2018, the next best years for local commercial banks was 2013 when profits reached P1.76 billion and 2012 when they raked in P1.75 billion. In 2017, bank profits were pegged at P1.25 billion.

According to the latest Bank of Botswana update, local banks super profits in 2018 were anchored by the containment of bad and doubtful debts, which fell to P417 million by November, compared to P1 billion for the full year 2017.

Editor's Comment
Congratulations Anicia Gaothuse!

The contest had 10 beautiful young girls as finalists and unfortunately only one could wear the crown.The judges picked Anicia Gaothuse. To all those who feel their contestant should have won ahead of Anicia for whatever reason, hardly; the judges found Anicia to be the best among the best, so desist from disrespecting our newly crowned queen on social media or anywhere else, for that matter! Each of the 10 beautiful young women had supporters...

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