BSB profits up 147% despite challenges
Friday, January 19, 2024 | 540 Views |
Riding high: BSB’s profits were buoyed by fees and commissions
Half year results shared with investors on the Botswana Stock Exchange (BSE) this week attribute the profit before tax growth to higher fee and commission income, which witnessed a substantial increase of 105% year on year, primarily driven by the improved performance of savings accounts.
Total expenses increased by 5% year on year, largely due to the bank's investment in its digitisation journey. Directors said the BSB’s focus now is to have 200 new agency branches and launch a digital banking solution. Expenses during the period included investments in various IT solutions to enhance the bank's cyber security framework.
For too long, the state of many public schools has been a source of shame. We have all seen the pictures and heard the stories of broken windows, unreliable water and electricity, topped by classrooms that are not fit for proper learning. The establishment of the Education Infrastructure and Management Company Ltd (EIMC) signals that authorities are finally ready to take this problem seriously. We must commend the government for this initiative....