Botswana’s first indigenous commercial bank, BBS Bank Limited, is showing promising signs of recovery after reporting a loss of P29 million for the six months ending 30 June 2023. The bank’s board now projects a profit before tax of between P33 million and P35 million for the same period in 2024, reflecting an increase of 114 percent to 121 percent.
Managing Director Pedzani Tafa attributed this rebound to the bank’s strategic efforts following the acquisition of a commercial banking license from the Bank of Botswana in October 2023. Tafa highlighted that 2024 has been dedicated to laying the groundwork for future growth, with a focus on expanding the bank’s service offerings while maintaining its core strength in mortgage financing.
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