Absa Bank Botswana has posted a profit before tax of P1.06 billion (+27% YoY) in its financial results for the year ended 31 December 2024.
Total income for the period reached P2.28 billion (+8% YoY), supported by strong net interest income and steady loan book growth. Net operating income stood at P2.19 billion, while total expenses stood at P1.13 billion.
Retail banking was the largest contributor, generating P1.64 billion in income, while corporate and investment banking brought in P645.49 million. Customer deposits grew by 3.7%, increasing to P19.39 billion.
Fee and commission income saw a 11.6% increase, reaching P532.3 million from P476.9 million in 2023, driven by higher transaction volumes and new-to-bank customers.
Despite broader economic uncertainties in Botswana mainly caused by a muted diamond market, the bank remains optimistic about its growth trajectory and will focus on innovation, risk management, and expanding lending activities to sustain long-term profitability.