Absa Botswana expects higher profits

Tuesday, March 17, 2020

Absa Bank Botswana expects its pretax profits for 2019 to come in up to P88 million higher than the previous period. Some employees, however, will not enjoy the fruits of the higher earnings as the bank is finalising a voluntary separation scheme due to be complete by May.

Last week, the newly rebranded bank told investors that pretax profits for the year ended December 31, 2019 would be up to 15% higher than the P588 million earned in 2018.

Absa Bank Botswana expects to unveil its results before the end of March. The latest forecasts continue the bank’s run of robust profits, following a difficult spell in the early years of the last decade.

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Absa Botswana expects higher profits

Absa Bank Botswana expects its pretax profits for 2019 to come in up to P88 million higher than the previous period. Some employees, however, will not enjoy the fruits of the higher earnings as the bank is finalising a voluntary separation scheme due to be complete by May.

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