Banks set for record profits

Tuesday, February 21, 2023 | 880 Views |

Capital central: The Bank of Botswana oversees all commercial banks in the country PIC: MORERI SEJAKGOMO

The country’s commercial banks recorded collective after-tax profits of P2.4 billion in the first 11 months of last year, setting them on course for the highest profits the sector has ever recorded.

Previously, the highest after-tax profits the banks enjoyed was in 2018 at P2.02 billion.

Bank of Botswana (BoB) figures released recently indicate that in the first 11 months of last year, the country’s commercial banks raised their net interest incomes to P4.6 billion, nearly 15% above the corresponding period in 2021.

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Banks set for record profits

The country’s commercial banks recorded collective after-tax profits of P2.4 billion in the first 11 months of last year, setting them on course for the highest profits the sector has ever recorded.