FNBB expects lower profits

Wednesday, February 10, 2021

Steven Bogatsu, First National Bank Botswana CEO

First National Bank Botswana has warned investors to expect a drop in profits of up to P136 million for the half-year ended December 31, 2020.

In a statement this week, the bank said pretax profits would be between 20% and 25% lower than the corresponding period last year.

FNBB recorded pretax profits of P545 million for the half-year ended December 31, 2019. While directors did not provide reasons behind the lower profit due, local commercial banks have noted the pressure from the coronavirus (COVID-19), which affected arrears, new loans and operating costs.

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FNBB expects lower profits

First National Bank Botswana has warned investors to expect a drop in profits of up to P136 million for the half-year ended December 31, 2020.

BNSC powerless as fights escalate

Sportspersons flock to politics

Attention turns to relegation

Tlou wary of another near-miss

Softball team denied World Cup chance

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Inspect the voters' roll!