FNBB raises red flags on credit

Friday, March 06, 2020

Wary: Bogatsu is keeping an eye on the numbers PIC: PHATSIMO KAPENG

The country’s largest lender, First National Bank Botswana (FNBB), is sounding the alarm on growing over-indebtedness and arrears amongst individuals in the country.

As at December 31, 2019, individual customers owed FNBB P9.4 billion or about 60% of the bank’s total loan book.

For the six months ended December 31, 2019, total loans advanced by FNBB to its individual customers rose 9.6 percent, while impairments amongst individual customers rose 43% to P121.3 million.

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