Country Awards for Excellence 2020: Africa
First National Bank of Botswana (FNBB) continues to perform strongly and, after reporting a 16% year-on-year increase in market capitalization, wins the award for Botswana’s best bank again this year.
FNBB reported a 13% increase in profit before tax to P544.9 million ($46.2 million), while its return on tangible common equity increased 3% to 25.4% from 24.6% at the end of 2018. Interest income increased by 5% against growth in gross advances of 3%.
In 2019, the bank focused on improving credit discipline by tackling its distressed debt portfolio, reducing non-performing loans by 10% to 6.9%