BoB interest expenses hit all-time low

Tuesday, June 10, 2014

The Bank of Botswana (BoB) interest expenses dropped 33 percent to P368.6 million last year due to lower excess liquidity in the market and the 200 basis point drop in the bank rate.

The 2013 figure is a far cry from the record high of P2.1 billion recorded in 2008 as well as the P913 million that the BoB reported in 2011 after it introduced several measures to rein in the stubborn trend. In July 2011, the BoB increased commercial banks’ primary reserve ratios and also capped Bank of Botswana Certificates (BoBCs) at P10 billion, as part of measures to restrain runaway interest costs.

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