The country's small banks continue to gain ground on the Big Five, accounting for 15.3% of total assets in the banking sector or P15.1 billion in 2019, a report released by the Bank of Botswana this week shows.
The figures are an improvement from 11.3% of total assets in 2018 or P10.3 billion, which the central bank says, “reflects some market gains by small banks”.
The Big Five comprises First National Bank Botswana, Absa Botswana, Standard Chartered Bank Botswana and Banc ABC, while the small banks are Bank Gaborone, Bank of Baroda, First Capital Bank and Bank SBI
In terms of deposits, the small banks accounted for 14.7% of the industry’s funds or P11.1 billion in 2019 compared to 12.1% or P8.4 billion.
The Bank of Botswana noted that the local banking sector continued to be ‘moderately concentrated’ a historical situation in which the larger banks have accounted for the lion’s share of the market.
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