Redemption beckons for BoB

For years, local banks enjoyed super-profits – often higher than their regional peers – and in many cases the local entities were crowned the highest performing in their respective banking groups.

For years, much of this was as a result of the economic boom enjoyed in Botswana before the recession in 2009. In those years, a credit bubble emerged as banks aggressively expanded their loan books to all tiers of customers, benefiting from high interest rates and the traditionally benign deposit rates.