Banks rake in record profits

Figures from the Bank of Botswana made available this week, show that the commercial banks powered to net interest incomes of P7.5 billion last year, from P6.4 billion in 2023, helping the after-tax profits to a 30% year-on-year increase.

Non-interest income, which is commonly associated with the revenues from fees and commissions, amounted to nearly P4 billion, up about eight percent from 2023. Non-interest expenses, which involve all operating cost items such as salaries and maintaining the systems that run technology at the banks, reached P5.8 billion last year, up from P5.7 billion in 2023.