Banks set for mega-profit earnings season

Purple patch: FNBB, the country’s largest bank, expects profits to reach as high as P1.4 billion this year PIC: MORERI SEJAKGOMO
Purple patch: FNBB, the country’s largest bank, expects profits to reach as high as P1.4 billion this year PIC: MORERI SEJAKGOMO

Local commercial banks are set to show off bumper profits, some of them up by triple digits, in the forthcoming earnings season, as they benefit from a set of positive factors and trends.

Listed and unlisted banks are due to unveil their annual and interim financials in the coming weeks, with several estimates already indicating that profits will be elevated.

Bank of Botswana data shows that cumulative after-tax commercial bank profits in the first six months of the year reached P1.5 billion, compared to P1.2 billion over the same period last year, putting the sector on a path to break historic records when the year is complete.


Editor's Comment
Bravo police for prompt action

It is also hurting that whilst we all know that the Botswana Police Service (BPS) is charged functionally with the duties to investigate all forms of crime, some locals have resorted to taking the law into their own hands. It is very wrong to do that. There is also a possibility that one may wrongfully take the life of a person in the process, unless it is a justifiable case of self-defence. Recently, in the city of Francistown, some locals found...

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