BBS Bank posts first profit

According to the results published on the Botswana Stock Exchange recently, BBS Bank’s interest income shot up 42% year on year to P233 million, off the back of a stronger loan book which went from P3.3 billion to P4.2 billion between June 2023 and June 2024.

Directors said the bank’s cost of funding significantly improved compared to the previous period due to better market liquidity and acquiring deposits became less expensive than in the previous period. BBS Bank received strong support from its corporate clients, achieving a 46% year-on-year growth in deposits.