- Projects PBT to go up by between 20 percent and 30 percent or between P137m and P206m
- Advises shareholders to exercise caution with its securities until interim financial results are released
First National Bank Botswana’s (FNBB) profit before tax will increase by more than P130 million for the period that ended 31 December 2023.
This is revealed in the bank’s trading statement (2023-2024 interim financial results) to fulfill listing requirements of the Botswana Stock Exchange Limited (BSE).
They require a listed company to announce, through the BSE and the press, any likely or anticipated material change to the financial results for the next reporting period.
“The Board of Directors of FNBB wishes to inform shareholders that the company’s overall profit before tax for the period ended 31 December 2023 will be higher than that reported in the previous corresponding period by between 20 percent and 30 percent, which in number terms is an increase of between P137 million and P206 million,” says the statement.
“The profit before tax for the corresponding period ended 31 December 2022 was P687 million.”
Interim report to have details
FNBB has advised shareholders that the financial information on which this trading statement is based has not been reviewed or reported on by the external auditors.
“The full details will be provided to shareholders at the announcement of the interim financial results for the period ended 31 December 2023,” says the statement.
“The announcement will be made on or about 20 February 2024. Accordingly, shareholders are advised to exercise caution when dealing in the company’s securities until the interim financial results are released.”
FNBB is the largest commercial bank in the country. It provides a full range of banking services to individuals as well as large and small businesses through an array of technologically-driven services.
The bank has a nationwide branch and automated teller machine (ATM and ADT) network, as well as self-service channels such as Cash Plus and digital platforms like online banking, an FNB App and cellphone banking.
The bank provides its customers with convenient access to banking solutions around the clock.