The commercial banking sector in Botswana continues to witness robust growth in profits, buoyed by factors such as higher interest rates, banking fees, and an uptick in consumer lending.
Standard Chartered Bank Botswana, the country’s oldest commercial bank, has achieved significant financial milestones in 2023, surpassing expectations with a remarkable 29 percent Return on Tangible Equity (RoTE), ahead of its target of 25 percent by 2025. The bank, fondly referred to as the “green bank” in the industry, attributed its stellar performance to a strategic focus on high-yielding products, resulting in impressive top-line growth. However, Non-Funded Income (NFI) experienced a decline of 26 percent year-on-year, reaching P236 million, largely due to reduced margins on Foreign Exchange (FX) and subdued transactional volumes.
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