FNBB expects profit surge

Monday, August 21, 2023 | 960 Views |

Delivering returns: FNBB CEO, Steven Bogatsu PIC: FILE PIC

The country’s largest bank by balance sheet, First National Bank Botswana (FNBB), expects its profits for the year ended June 30 to be as much as P250 million higher than the amount recorded over the previous corresponding period.

In a notice to the Botswana Stock Exchange (BSE) on Friday, the bank said its pretax profits for the year ended June 30 are expected to be between 15% and 20% higher, or P180 million to P250 million above the P1.2 billion recorded last year.

“The full details will be provided to shareholders at the announcement of the financial results for the period ended June 2023, due to be released on September 13, 2023,” directors said. No details were provided for the expected increase in pretax profits.

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