Banks cut 116 jobs in 2020
Mbongeni Mguni | Wednesday October 20, 2021 12:44
The latest Bank Supervisory Report issued by the Bank of Botswana this week shows 3,665 workers were employed by the four big banks at the end of 2020, compared to 3,781 at the end of 2019. The report indicates that Absa Botswana had the biggest drop in employment last year, with a decrease of 59 jobs, while First National Bank Botswana had a drop of 25. Standard Chartered Bank Botswana shed 19 jobs and Stanbic Bank Botswana’s staff complement dropped by 13.
First National Bank Botswana remained the largest bank in terms of employment with 1,375 employees, followed by Absa Botswana with 1,101 and Standard Chartered Bank Botswana with 632. Stanbic Bank Botswana had 557 workers by the end of 2020.
By comparison, the four smaller commercial banks saw employment rise during 2020 from 899 to 940.
Employment levels at the three statutory banks rose from 492 to 537 during 2020.