mmegi

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
Gov't must guard against cadre deployment

As the Botswana National Front (BNF) discusses a policy to place suitably qualified members in strategic positions, the guiding consideration should remain whether an individual is the best person to serve the country. There is nothing wrong with qualified party members applying for public positions. Political affiliation should neither disqualify a capable candidate nor give them an advantage over others. Every Motswana deserves a fair...

Have a Story? Send Us a tip
arrow up