FNBB Expects Profit to Increase by More than P80m

Warns shareholders to exercise caution when dealing in its securities until the statement is reviewed


First National Bank Botswana’s (FNBB) profit before tax will increase by more than P80 million for the period that ended 31 December 2022, the Botswana Gazette has established.

This is revealed in the bank’s 2022/23 financial results published recently with the Botswana Stock Exchange (BSE) in accordance with the Listing Requirements of the bourse for listed companies to announce through it 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 2022 will be higher than that reported in the previous corresponding period by between 15 percent and 20 percent, which in number terms is an increase of between P87 million and P116 million,” the trading statement said.

Not reviewed
“The profit before tax for the corresponding period ended 31 December 2021 was P578 million.”

Accordingly, FNBB advised its shareholders that the financial information on which the 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 period ended December 2022 interim financial results, due to be released on 16 February 2023,” said the statement.

“Accordingly, shareholders are advised to exercise caution when dealing in the company’s securities until a full announcement is made.”

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.