Mmegi

BSB profits up 147% despite challenges

Riding high: BSB’s profits were buoyed by fees and commissions
Riding high: BSB’s profits were buoyed by fees and commissions

Botswana Savings Bank (BSB) posted pretax profits of P3.7 million in the half year to September, nearly one and a half times the levels in the previous corresponding period, despite what directors described as a “challenging business environment”.

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.


Editor's Comment
Mabogo dinku a thebana

According to both the acting director of Veterinary Services, Kobedi Segale and acting Lands and Agriculture minister, Edwin Dikoloti, the virus currently raging through the North-East mostly likely first entered the country during the festive season.From the “unprecedented” number of cases picked in testing last week, it is likely that cattle and other livestock could have been infected last year, without being reported.Animal health...

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