A P48 million voluntary separation bill is expected to cut Access Bank Botswana’s first-half profit before tax by 40 to 50 percent, even as underlying profit rises.
GAZETTE REPORTER
Access Bank Botswana PLC expects profit before tax for the six months ended 30 June 2026 to fall sharply from the corresponding period last year, largely because of a P48 million once-off staff separation cost.
In a cautionary announcement issued through the Botswana Stock Exchange, the bank said first-half profit before tax is expected to be between 40 percent and 50 percent lower than the P60 million recorded in the same period in 2025. That translates to an estimated decline of about P24 million to P30 million.
The announcement was made in line with section 5.4c of the Botswana Stock Exchange Listing Requirements, which requires an issuer to publish a cautionary announcement when it is reasonably certain that expected profit or loss before tax will differ by at least 10 percent from the most recent corresponding financial results.
P48m charge
Access Bank Botswana attributed the decline largely to its voluntary separation programme, implemented during the first half of 2026.
The programme resulted in P48 million in exit packages, which the bank described as part of efforts to improve operational efficiency and position the business for sustainable future growth.
The bank said the reported decline masks stronger underlying performance once the once-off cost is excluded.
“The underlying performance excluding this once-off item is an increase in profit of 37 percent compared to the comparative period,” the bank said.
The distinction means the expected fall in reported profit is substantially driven by the separation programme rather than the bank’s underlying performance during the period.
Bank footprint
Access Bank Botswana is a subsidiary of Access Bank Plc, a full-service commercial banking group operating across three continents, 24 markets and a network of more than 700 branches and service outlets, serving 60 million customers.
Listed on the Botswana Stock Exchange since 2018, Access Bank Botswana operates through Retail, Business, Commercial, and Corporate & Investment Banking segments. It has 19 branches and service centres, 59 ATMs and more than 440 full-time employees in Botswana.
Results due
The bank said its full half-year results are expected to be published by 30 September 2026, when it will provide further detail on the key drivers of performance during the six-month period.
Shareholders have been advised to exercise caution when dealing in Access Bank Botswana securities until the full results announcement is made.