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Banks relish stellar earnings season

Rosy days: Stanbic Bank Botswana expects its pretax profits for the year ended December 2022 to be as much as P337 million higher than the corresponding period in 2021
Rosy days: Stanbic Bank Botswana expects its pretax profits for the year ended December 2022 to be as much as P337 million higher than the corresponding period in 2021

The country’s listed banks are enjoying one of their best earnings seasons in recent years, with pretax profits for the period to December increasing by up to 250% for some players, BusinessWeek has learnt.

Companies listed on the Botswana Stock Exchange’s (BSE) main Domestic Companies Index have until March 31 to file their full year and interim financials for the period to December 2022, under a listing rule that requires financials to be published within three months of the end of the reporting period.

Ahead of that date, four of the commercial banks listed on the BSE have notified the market that their pretax profits for the reporting period to December 2022, will be higher than the corresponding period in 2021.

Editor's Comment
A collective responsibility to end FMD spread

As cases continue to threaten herds and rural livelihoods, one simple but critical action can make a powerful difference: strictly adhering to FMD regulations, including refraining from slaughtering cloven-hoofed animals.Cloven-hoofed animals, such as cattle, sheep, goats, and pigs, are highly susceptible to FMD. Slaughter, especially during outbreaks or restricted periods, significantly increases the risk of spreading the virus through...

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