FNBB deposit book grows by over 30 percent

According to the bank's financial results released this week, FNBB incurred a 29.4 percent increase in operational expenses to P120 million, largely due to its expansion programme and process improvements.

"During the period under review, the bank continued with its expansion programmes, with the opening of two branches in Selibe-Phikwe and Serowe. This expansion, together with the introduction of a new treasury system, has impacted on costs, resulting in huge increases in operating expenses during the review period, CEO Danny Zandamela said. But he is confident that the bank will soon recoup the money it invested in expansion as this will open up new revenue streams and improved processes.