MD emphasise a customer-centric approach as Access seeks economic growth through its corporate, commercial and retail banking segments
GAZETTE REPORTER
Access Bank Botswana has reported a significant profit before tax of P134.6 million, a substantial increase from the P52.3 million posted in 2023, for the year ending 31 December 2024.
The bank’s Managing Director, Sheperd Aisam, has emphasised a customer-centric approach as the institution seeks to drive economic growth through its corporate, commercial and retail banking segments.
Non-interest income rose to P286.9 million, up from P204 million in 2023, while net interest income grew to P413.9 million, compared to P408.8 million in the prior period.
Investment securities
The bank’s total assets expanded by 2 percent year-on-year, driven by an increase in investment securities, despite a reduction in the loan book.
Deposits also rose by 1 percent, which Aisam said reflects the bank’s continued focus on enhancing its customer value proposition.
“The bank is well-positioned to capitalise on upcoming opportunities,” he said in the bank’s financials released this week. “We plan to introduce market-leading enhancements to our deposit offerings.”
Tech and HR
According to the MD, substantial improvements are underway in the bank’s corporate transactional banking platforms. He noted that investments in technology and human capital have strengthened operational stability while broadening product offerings.
“As the bank follows its guided growth trajectory, management will leverage digital capabilities to optimise operational efficiencies, enhance customer experiences, and maximise shareholder value,” he said.
The retail segment will continue to focus on customer-centric banking services while the corporate, commercial and business banking sectors will support enterprises of all sizes in driving economic growth.
Strong return on investment
The bank’s capital adequacy ratio stood at 21.7 percent as at 31 December 2024, slightly down from 21.8 percent in 2023 but well above the regulatory minimum of 12.5 percent.
On 28 December 2024, Access Bank Botswana announced a 6 thebe per share dividend, payable on 22 April 2025, with a 10 percent withholding tax applied. This follows a 4 thebe per share dividend declared for the previous year, which was paid in May 2024.
Aisam said the bank demonstrated substantial progress in 2024, achieving strong returns on strategic investments while laying the groundwork for continued growth.
Effective stewardship
“A notable increase in top-line revenue was driven by a 50 percent surge in non-interest income, primarily fuelled by a rise in volumes and the increased utilisation of digital channels,” he said.
“This strong performance underscores the bank’s effective stewardship and strategic direction, positioning it for continued success in the coming periods.”