BBS Bank, which was listed on the Botswana Stock Exchange (BSE) in 2018, is expecting a 121% increase in profit before tax in its half-year results to be released this month. It will be a turnaround for the company which recorded a P29 million loss in June 2023.
The profit swing translates to a projected profit before tax of between P4 million and P6 million.
In October 2022, the Bank of Botswana formally granted the bank the license to operate as a commercial bank in Botswana. It became the first indigenous bank to get the license.
Earlier this year, the bank also announced that it had joined the Society for Worldwide Interbank Financial Telecommunications (SWIFT).
Editor's Note: An earlier version of this article erroneously stated that BBS expected a loss. This has been corrected.