Bank profits hold steady

Figures released by the Bank of Botswana recently underline the local banking sector’s resilience despite COVID-19, as the banks adjusted their risk appetites but generally maintained profitability.

According to the figures, the first quarter 2021 profits were about 13% lower than those of the corresponding period in 2020, which was the period before the pandemic hit Botswana. In the first quarter after COVID-19’s onset last year, collective profits fell to P181 million as banks provided repayment holidays and other relief to customers.