First National Bank Botswana (FNBB) continues to balance strong financial results with social responsibility and deliver sustainable returns while creating meaningful impact for its clients and communities.
Announcing the bank’s audited financial results last Wednesday, Acting Chief Financial Officer, Orapeleng Senwelo, said FNBB recorded a significant P1.9 billion profit before tax for the year ended June 30.
The impressive financial results are attributed to the strong performance, which represented a 6% increase from the previous year, to the bank’s disciplined approach to growth and its steadfast commitment to its clients, shareholders and the community.
The bank’s financial highlights included net advances to customers which grew by 11% to P20.6 billion, deposits closed at P26.5 billion, retail card swipes reached 18.1 million transactions, a 17% increase as well as the e-wallet transactions which totaled 15 million.
According to Senwelo, the bank’s commitment to financial inclusion has led to a significant upsurge in the use of its CashPlus services. Supported by 1 794 agents across every district in Botswana,CashPlus processed 8.4 million transactions.
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The use of FNB Point of Sale (POS) machines also grew, offering clients free swipes for convenient and cost effective banking. As a result, the bank has declared a final dividend of 15 thebe per share, following an interim dividend of 18 thebe per share, something that brought the total dividend payout to 33 thebe per share.
For his part FNBB Chief Executive Officer, Steven Bogatsu said beyond financial performance, the bank reached over 800 000 people through various financial literacy, education, arts, sport and community empowerment initiatives.
“Our purpose is to make meaningful growth for the people and businesses of Botswana,” said Bogatsu adding that the CashPlus network has expanded to nearly 1 800 agents, serving over 400 000 clients nationwide, while the FirstPreneur programme has helped 146 entrepreneurs with mentorship and funding.
Meanwhile, FNBB economist, Gomolemo Basele provided an economic outlook and reported that global conditions remained uncertain, with slower trade affecting many economies, including Botswana.
Locally, he said they projected that the diamond sector would face softer demand, which may weigh on growth. Basele added that they are also expecting inflation to remain stable at around 3.2% for the year, which is within the Bank of Botswana’s target range.
Looking beyond 2025, he said they anticipated strong potential for growth through diversification into sectors like renewable energy, agriculture, manufacturing, finance and tourism.
“By building on these opportunities, Botswana is well positioned to create a more resilient and inclusive economy for the future,” said Basele.
