Mmegi

BSB posts historic profits as loan book swells

On the up: 
BSB’s pretax profits 
were up by more 
than 1,700% 
PIC: MORERI SEJAKGOMO
On the up: BSB’s pretax profits were up by more than 1,700% PIC: MORERI SEJAKGOMO

Botswana Savings Bank’s (BSB) pretax profits for the six months ended September 2024 rose more than 18 times higher than last year to P68 million, boosted by strong growth in the statutory bank’s loan book.

The profits were more than 1,700% above the P3.7 million recorded by BSB in the half year ended September 2023.

In a commentary accompanying results which were posted to the Botswana Stock Exchange (BSE) this week, directors attributed the profit spike to a revised sales strategy coupled with a revision of its loan book.

Editor's Comment
Our digital safety is in our hands

That sounds like good news. But the report also warns that this may simply be because our digital economy is still young, not because we are safe. As more people shop, bank and pay online, criminals will follow.We Batswana do not need a report to tell us that danger is real. Many of us have heard of or fallen victim to KYC scams. A caller impersonates your bank or mobile money provider. They say they need to “verify” your account. They ask...

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