- Tsaone Segaetsho
The board of directors of the largest commercial bank in Botswana, First National Bank Botswana (FNBB), has announced that overall profit before tax for the period ended 31 December 2024 will be higher than that reported in the corresponding period ended 31 December 2023 by between 10% and 15%.
This represents an increase of between P88 million and P132 million in absolute terms, compared with a profit before tax of P879 million for the corresponding period ended 31 December 2023.
The FNBB board made this announcement in accordance with BSE Listing Requirements, which mandate that a listed company announce through the stock exchange and the press any likely or anticipated material change to the financial results for the next reporting period.
The board informed shareholders that the financial information on which this trading statement is based is yet to be reviewed or reported on by the external auditors, and that the financial results for the period ended December 2024 will be released on or around 04 March 2025.
FNBB is the largest of nine licenced commercial banks in Botswana by balance sheet size, client numbers and income. It is also the largest company on the Botswana Stock Exchange by market capitalisation.
“With a track record of steady income growth and consistent dividends, we are an attractive choice for investors seeking stability and long-term returns,” said FNBB in last year financial results.
FNBB is part of the FirstRand Group of companies and is listed on the BSE. In the last financial year reported, which began in 2024, FNBB recorded a profit before tax of P879 million – a 28 per cent rise for the six-month period ended 31 December 2023. These achievements were based on growth in gross customer advances across its key operating segments. The bank also had its flag hoisted by its commercial lending, retail and online transactions, which were among the key sectors driving growth.
This is the year in which FNBB is bringing to a close its Vision 2025 Strategy, which commenced in 2020. Last year, FNBB CEO Steven Bogatsu said they were working towards concluding their Vision 2025 Strategy, which he said hinged on digital transformation and was anchored around the five pillars of solution-oriented people, operational efficiencies, shared value and sustainability, being customer-centred and value protection.
