FNBB forecasts Profit to increase by over P140m

  • Results to be released on March 2nd

GAZETTE REPORTER

Leading commercial integrated service provider, First National Bank Botswana (FNBB), says overall profit before tax for the interim period ended 31 December 2021 will be higher than that reported in the previous corresponding period by between 35 percent and 40 percent, which is an increase of between P147 million and P168 million.

Orange

FNBB’s profit before tax for the corresponding period ended 31 December 2020 was P419 million. “The Board recognizes that the December 2020 results were significantly lower than the current reporting period primarily due to the provisioning for expected credit losses related to the economic impact of Covid-19,” says FNNB company secretary, Gaone Setlhake, in a trading statement released recently.

The Listing Requirements of the Botswana Stock Exchange (BSE) require a listed company to announce through the BSE any likely or anticipated material change to the financial results for the next reporting period.

Setlhake says financial results for the interim period ended December 2021 are due to be released on 2 March 2022.