Bank profits soar even higher

According to the latest Bank of Botswana numbers, August was the most profitable month within the third quarter for local banks, as they raked in a collective P197 million. August’s profits were also the highest for the year up to September for the banks, followed by P190.4 million in May.

In the first six months of the year, local banks hauled in collective profits of P860 million, the third highest level in the country’s history. The six month figures were nearly 64% higher than the corresponding period in 2017, while the nine-month profits (up to the third quarter) were 59% higher than the same period last year.