Access Bank Botswana has recorded a profit before tax of P134.6 million in its latest financial results for the period ended 31 December 2024. This is a 158% increase from the P52 million PBT the bank recorded in financial year 2023.
Total net revenue rose to P661 million from P598 million in 2023, marking a 11% increase year-on-year. Loans to customers decreased to P5.7 billion from P6.1 billion, contributing to a total asset value of P10 billion while deposits decreased significantly from P7.7 billion to P7.2 billion, contributing to a total liability value of P9 billion.
Net interest income, which is the difference between the cost of liabilities like deposits and assets like loans, increased by 1% while non-interest revenue saw a 45% increase year-on-year in 2024. The growth of the latter was driven by higher fees and commissions from digital banking activities.
Segment-wise, Access Bank Botswana's retail banking division showed an incredible change in fortunes, turning around a P41 million loss in financial 2023 to a P14 million profit in financial 2024. Meanwhile, the commercial banking division also increased its PBT from P36 million in 2023 to P84 million in 2024.
"Innovation remains a core value at the bank, and successful partnerships have further fueled this growth. The bank’s ability to bring well-received products to market continues to drive its competitive edge," Access Bank Botswana said.