{"id":56372,"date":"2024-10-04T17:13:19","date_gmt":"2024-10-04T17:13:19","guid":{"rendered":"https:\/\/www.africa-press.net\/botswana\/all-news\/bbs-bank-posts-first-profit"},"modified":"2024-10-04T17:26:24","modified_gmt":"2024-10-04T17:26:24","slug":"bbs-bank-posts-first-profit","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/botswana\/all-news\/bbs-bank-posts-first-profit","title":{"rendered":"BBS Bank Posts First Profit"},"content":{"rendered":"<p><span style=\"color: #ff6600\"><strong>Africa-Press &#8211; Botswana. <\/strong><\/span><b>BBS Bank posted pretax profits of P5.6 million in the first half of the year, turning around from a P28.9 million loss over the same period last year, in the inaugural profit for the country\u2019s newest commercial bank.<\/b><\/p>\n<p>According to the results published on the Botswana Stock Exchange recently, BBS Bank\u2019s interest income shot up 42% year on year to P233 million, off the back of a stronger loan book which went from P3.3 billion to P4.2 billion between June 2023 and June 2024.<\/p>\n<p>Directors said the bank\u2019s cost of funding significantly improved compared to the previous period due to better market liquidity and acquiring deposits became less expensive than in the previous period. BBS Bank received strong support from its corporate clients, achieving a 46% year-on-year growth in deposits.<\/p>\n<p>Directors said, as a result, the group maintained a healthy cash position, enabling business growth with minimal pressure. Personnel expenses decreased from P52.8 million in June 2023 to P44.5 million in June 2024, due to P11 million in once-off staff exit costs from the prior period. Directors said the group is \u201cundoubtedly on an upward trajectory\u201d based on an assessment of the strategic initiatives that have been and continue to be implemented under the Pilediwa Corporate Strategy.<\/p>\n<p>The Pilediwa Strategy commenced in 2023, and by its projected end, is expected to result in a profitable bank through the launch of various products and services, including digital offerings as well as heightened operational efficiencies.<\/p>\n<p><strong>For More News And Analysis About Botswana Follow Africa-Press<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Africa-Press &#8211; Botswana. BBS Bank posted pretax profits of P5.6 million in the first half of the year, turning around from a P28.9 million loss over the same period last year, in the inaugural profit for the country\u2019s newest commercial bank. According to the results published on the Botswana Stock Exchange recently, BBS Bank\u2019s interest [&hellip;]<\/p>\n","protected":false},"author":84,"featured_media":56371,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,244],"tags":[234],"class_list":["post-56372","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-to-homepage","tag-botswana"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.1 (Yoast SEO v27.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>BBS Bank Posts First Profit - Botswana<\/title>\n<meta name=\"description\" content=\"BBS Bank posted pretax profits of P5.6 million in the first half of the year, turning around from a P28.9 million los ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/botswana\/all-news\/bbs-bank-posts-first-profit\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"BBS Bank Posts First Profit\" \/>\n<meta property=\"og:description\" content=\"BBS Bank posted pretax profits of P5.6 million in the first half of the year, turning around from a P28.9 million los ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/botswana\/all-news\/bbs-bank-posts-first-profit\" \/>\n<meta property=\"og:site_name\" content=\"Botswana\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2024-10-04T17:13:19+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-10-04T17:26:24+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/botswana\/sites\/38\/2024\/10\/sm_1728050114.515116.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"720\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/botswana\/all-news\/bbs-bank-posts-first-profit#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/botswana\/all-news\/bbs-bank-posts-first-profit\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/botswana\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"BBS Bank Posts First Profit\",\"datePublished\":\"2024-10-04T17:13:19+00:00\",\"dateModified\":\"2024-10-04T17:26:24+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/botswana\/all-news\/bbs-bank-posts-first-profit\"},\"wordCount\":256,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/botswana\/all-news\/bbs-bank-posts-first-profit#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/botswana\/sites\/38\/2024\/10\/sm_1728050114.515116.jpg\",\"keywords\":[\"Botswana\"],\"articleSection\":[\"all news\",\"economy\",\"to-homepage\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/botswana\/all-news\/bbs-bank-posts-first-profit#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/botswana\/all-news\/bbs-bank-posts-first-profit\",\"url\":\"https:\/\/www.africa-press.net\/botswana\/all-news\/bbs-bank-posts-first-profit\",\"name\":\"BBS Bank Posts First Profit - 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