FNBB banks on transaction fees income

Tuesday, February 24, 2015

First National Bank of Botswana (FNBB) is pinning hopes on transaction fees from its large customer base to drive growth in revenues as the squeeze in interest income continues to eat into the bank’s profitability.

Due to prevailing low interest rate environment coupled with reduced deposits and tight liquidity, the bank recorded a two percent drop in net interest income for its half-year results to 31 December 2014.

On the other hand, the bank strategy of shifting from ‘bricks to clicks’ produced success as non-interest income rose by 11 percent year on year.

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