First Capital’s profits surge 35%

First Capital Bank
First Capital Bank

First Capital Bank Botswana saw its pretax profits rise 34.9% last year to P293.3 million, supported by strong growth in its loan book, as the bank made further inroads into the local market.

FCB Botswana is part of the FMB Capital Holdings, a Malawi-born but Mauritius headquartered financial group with other operations in Malawi, Mozambique, Zambia and Zimbabwe.

According to the results made available last week, FCB Botswana enjoyed a rosy period in the year to December 2023, with its loan book rising to P4.2 billion, from P3.7 billion. The Bank of Botswana (BoB) kept interest rates flat for most of 2023, effecting a 25 basis point reduction in December, which further eased borrowing conditions for customers.

Editor's Comment
CoA brings sanity to DIS/DCEC long-standing feud

This decision follows the raiding of the office of the former Director General of the DCEC, Tymon Katlholo early 2022 and his staff officer by the DIS operatives who reportedly took files that they had targeted.After all back and forth arguments, the CoA has set the record straight giving an invaluable lesson to the DIS that it was no super security organ and it does not have any powers to cogently supervise other security organs including the...

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