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
Women in Politics caucus NGO, a welcome development

In the 2014 General Election, women who stood for parliamentary elections were a mere 17 out of a total of 192 aspirants, and sadly the number dropped to 11 out of 210 parliamentary aspirants in the 2019 General Election. Hopefully, registration of the Women in Politics Caucus will give women the necessary support to join politics. While things were slowly improving, women for a long time were at the receiving end as compared to their male...

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