Botswana's largest commercial bank First National Bank Botswana (FNBB) recorded a record-breaking P1.1 billion in profit before tax, according to its annual financial results for the year ended 30 June 2022. This is a 33% increase on the P900 million profit recorded in the year ended 30 June 2021.
According to FNBB, the bank's 9% and 8% year-on-year rise in service fees and card commissions was a result of increased transaction volumes coming from its digital and electronic channels.
FNBB also stated that its continuing investment in its digital platform solutions has generated efficiency and improved customer and employee experience through all interfaces.
Regarding remote working, the bank pointed to the fact that although the bank's workforce operates under a blended work model, balancing remote working and physical interactions, as risks around the spread of COVID have diminished, in-office working is once again being encouraged in order to foster innovation and collaboration.
FNBB Chief Executive Officer, Steven Bogatsu said FNBB will continue to offer more digitally-led solutions to its customers in line with the global challenges, emphasizing that with the digital advances that the bank has invested in, a customer almost never needs to physically go into a branch.