- Projects profit to be higher than the previous corresponding period by between 15% and 20 %
First National Bank of Botswana Limited (FNBB) has informed its shareholders through a trading statement issued on the Botswana Stock Exchange (BSE) that its overall profit before tax for the period ended 31 December 2022 will be higher than that reported in the previous corresponding period by between 15 percent and 20 percent.
Sharing its 2022/2023 interim results in the trading statement, the company – which is one of the largest commercial banks in the country – explained that the growth in number terms is an increase of between P87 million and P116 million.
It further noted that the profit before tax for the corresponding period ended 31 December 2021 was P578 million. While the financial information on which the trading statement is based has not been reviewed or reported on by the external auditors, FNBB noted to its shareholders that full details will be provided at the announcement of the period ended December 2022 interim financial results, due to be released on 16 February 2023.
“Accordingly, shareholders are advised to exercise caution when dealing in the company’s securities until a full announcement is made,” the commercial bank advised its shareholders. In issuing the trading statement, FNBB is fulfilling the listing requirements of the BSE which oblige a listed company to announce, through the bourse and the press, any likely or anticipated material change to the financial results for the next reporting period.
First National Bank of Botswana Limited is a financial services institution providing products and solutions for personal, business and private clients in Botswana. Its personal banking division offers the standard range of transaction products as well as student accounts, overdrafts and loans and online banking products. The business banking division offers additional services such as purchase order finance, premium credit facilities and commercial property loans.
The bank also provides agricultural solutions, farming enterprise finance, business investment solutions and farm risk insurance finance along with solutions for payments, funding, cash management services to the public sector, and treasury and trade services. Its private banking division offers wealth and advisory services, as well as structured lending services.