Banks set for record profits

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

Editor's Comment
The Boko-led administration has to tread carefully

‘When you make peace withyourself, you make peace with the world’- Maha GhosanandaThis may come at a huge cost if not handled properly. What started off on Labour Day in Letlhakane this year, where Boko was in attendance when the militant lawyer-cum-trade unionist, Robert Rabasimane rebutted the President’s address in defence of the trade union has seemingly spiralled out of control. The issue is now creating a cat-and-mouse type of a...

Have a Story? Send Us a tip
arrow up