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Bank profits reach yet another historic high

Friday, March 15, 2024 | 790 Views |

Lion’s share: Retail customers make up the bulk of banks’ interest earnings and they also attract higher interest charges than other categories of clients PIC: MORERI SEJAKGOMO

The country’s commercial banks last year raked in a collective P3.2 billion in after-tax profits, the second year running that the banks have broken history with the levels of their earnings.

Figures made available by the Bank of Botswana (BoB) show that local commercial bank’s continued to enjoy the post-COVID rebound first seen in 2021 when their collective after-tax profits were more than P100 million above the pre-pandemic year of 2019.

For 2023, banks powered to P1.5 billion in the first six months of the year, before wrapping up the calendar at P3.2 billion or nearly 17 percent higher than 2022.

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Bank profits reach yet another historic high

The country’s commercial banks last year raked in a collective P3.2 billion in after-tax profits, the second year running that the banks have broken history with the levels of their earnings.

BCP eyes student vote revival

UB politics shapes future leaders

DIS officers seek tribunal authority over Magosi

DIS officers reject Magosi’s defence over P7.4m payout

DIS in P 1.5m employees money theft accusation

Botswana bets on gas mining boost for flagging economy

Mupane creditors grow uneasy as appeal drags on

UDC NEC to reconvene post leadership changes

Botswana must not be a flag of convenience for rogues