Bank profits hit two-year low

Bank of Botswana
Bank of Botswana

The country’s commercial banks saw a 10% slip in collective profits last year to P1.25 billion, as the sector was weighed down by higher defaults and operating expenses.

The banks’ fortunes were dampened last October when the Bank of Botswana (BoB) cut interest rates by 0.5%.

According to the central bank figures released on Wednesday, a 3.4% increase in banks’ net interest income to P4 billion, was outweighed by an 18% jump in bad debt provisions and a seven percent leap in operating expenses.

Editor's Comment
Congratulations Anicia Gaothuse!

The contest had 10 beautiful young girls as finalists and unfortunately only one could wear the crown.The judges picked Anicia Gaothuse. To all those who feel their contestant should have won ahead of Anicia for whatever reason, hardly; the judges found Anicia to be the best among the best, so desist from disrespecting our newly crowned queen on social media or anywhere else, for that matter! Each of the 10 beautiful young women had supporters...

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