Bank Profits Reach Highest Level Ever

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.