Bank profits reach yet another historic high

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
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.


Editor's Comment
Women unite for progress

It underscores the indispensable role women play in our society, particularly in building strong households and nurturing families. The recognition of women as the bedrock of our communities is not just a sentiment; it's a call to action for all women to stand together and support each other in their endeavours.The society's aim to instil essential principles and knowledge for national development is crucial. By providing a platform for...

Have a Story? Send Us a tip
arrow up