Banking is amongst the country’s most profitable sectors, with local banks’ collective profits breaking historic records in two of the three years since the pandemic year of 2020. Banks’ profits have defied downturns such as COVID-19, with nearly all entities digitising and boosting their non-interest income, tightening their operating structures and innovating around credit products and services.
Bank of Botswana figures released recently show that as at June 30, the country’s commercial banks had reaped a collective P1.97 billion in after-tax profits, putting them well on track to exceed the record P3.2 billion in profits they made last year.
