Tuesday, March 5, 2024

BancABC eyes top three spot

BancABC says it is aiming at increasing its market share in Botswana by delivering on the bank’s strategy and increasing banking convenience for customers.

The bank’s newly appointed managing director, Kgotso Bannalotlhe is buoyant that the Atlas Mara owned entity will find its way into the top three banks in the country.

“We are the fourth largest bank in the country by profitability and our banks’ retail banking segment has been performing well,” said Bannalotlhe.

Bannalotlhe says as a commercial bank, BancABC understand that its customers want efficient and reliable products and services.  As such the pan African bank says it is focusing on embedding a culture of innovation adding that they will continue to leverage technology.

Bannalotlhe shares with Sunday Standard that his bank has identified a lot opportunities in the SMMEs sector as well as on agric-business. Other local banks have also in the immediate past introduced similar products but Bannalotlhe in unfazed as he believes that competition is a good for customers, giving them choices that they did not have in the past.

Bannalotlhe also observes that in a competitive environment, banks have to learn to value their customers and not take them for granted. He added that it is important to learn to be creative and start looking at banking from the customer’s perspective.

“A more customer centric approach to product development also allows us to be a financial service provider to a wide range of customers,” said Bannalotlhe.

ABC Holdings Limited which owns BancABC delisted from the local bourse in early 2015 and has since indicated that it will not list its shares again anytime soon.

“We currently do not have plans to re-list at the Botswana Stock Exchange and we are a Botswana company as the BancABC Group head office is relocation to Botswana,” he said.

“It is difficult to state where the most significant growth could occur in the next two to three years within the bank but we are cautiously optimistic as there other external economic challenges,” Bannalotlhe stated.

Asked on the possibility of executive leadership changes, he said he is currently have no plans to embark of such changes adding that he is well resourced with personnel which is relevant to the banking industry adding that the talent is also innovative.


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