Africa-Press – Botswana. Bank has issued a cautionary announcement because it has a reasonable degree of certainty that its 2024 profit will differ by at least 10% from the previous year’s results.
Access Bank Botswana Plc has forecast a rise of 150 to 160 percent in its profit before tax for the year ending 31 December 2024, equating to between P78 million and P83 million.
This projection marks a substantial rebound from the previous year’s profit of P52 million, highlighting the bank’s continued strong performance.
In accordance with the Botswana Stock Exchange (BSE) Listing Requirements, Access Bank issued a cautionary announcement following a reasonable degree of certainty that its 2024 profit will differ by at least 10 percent from the previous year’s results.
People, infrastructure and technology
“As emphasised in our previous cautionary announcement on August 23, 2024, regarding our six-month performance, Access Bank Botswana has made significant investments in people, infrastructure, and technology following our acquisition by Access Bank Plc in 2021,” it said in a statement.
“Our performance continues to improve due to increased volumes in trading and non-interest income, driven by key innovative products that have been well-received by customers.”
Access Bank’s recent growth has been bolstered by strong customer uptake of newly launched products and services.
Higher trading volumes
The bank’s focus on technological innovation and strategic investments has contributed to higher trading volumes and non-interest income, ensuring a positive financial outlook for 2024.
The audited results are expected to be published by 31 March 2025.
In the meantime, shareholders are urged to exercise caution when dealing in the company’s securities until the full results are officially announced.
For More News And Analysis About Botswana Follow Africa-Press
