FNBB expects lower profits

Steven Bogatsu, First National Bank Botswana CEO
Steven Bogatsu, First National Bank Botswana CEO

First National Bank Botswana has warned investors to expect a drop in profits of up to P136 million for the half-year ended December 31, 2020.

In a statement this week, the bank said pretax profits would be between 20% and 25% lower than the corresponding period last year.

FNBB recorded pretax profits of P545 million for the half-year ended December 31, 2019. While directors did not provide reasons behind the lower profit due, local commercial banks have noted the pressure from the coronavirus (COVID-19), which affected arrears, new loans and operating costs.

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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