FNBB projects profit surge of up to P235 Million

First National Bank Botswana (FNBB) anticipates a substantial increase in its profit before tax for the financial year ending June 30, 2026, with gains expected to reach as much as P235 million. This growth would push the bank’s annual earnings past the P2 billion threshold for the first time.

In a notice to shareholders, FNBB projected a profit before tax increase of between 10 and 15 percent, translating to an estimated rise of P200 million to P235 million from the P1.9 billion reported in the previous fiscal year. This forecast places the bank’s profit before tax between P2.1 billion and P2.135 billion, with full-year results scheduled for release around September 9, 2026.

The announcement offers an early glimpse into FNBB’s performance amid a challenging economic environment in Botswana, marked by sluggish growth, limited fiscal space, and pressure on both businesses and consumers.

This projection continues a positive earnings trend for the bank. In the 2025 financial year, FNBB’s profit before tax grew by six percent, climbing from P1.7 billion in 2024 to P1.9 billion. That stronger base was bolstered by expanding digital banking services, growing customer numbers, and a broader range of financial products.

A notable highlight from the past year was the bank’s customer base surpassing 700,000 clients. This growth aligned with FNBB’s ongoing transition toward digital and self-service banking channels as part of its wider transformation strategy. Digital transactions have become an increasingly vital part of the bank’s operations. For example, the eWallet service saw a six percent increase in transaction volume, rising from 14 million in 2024 to 15 million in 2025. The value of these transactions also jumped 22 percent, from P7 billion to P8 billion.

Meanwhile, the Cash Plus service processed 8.4 million transactions through 1,794 agents, and retail card swipes rose 17 percent to 18.1 million transactions. These figures underscore the growing importance of electronic and alternative banking channels in Botswana, as financial institutions seek to extend service access beyond traditional branches.

FNBB’s balance sheet also strengthened during the period, with deposits growing from P23 billion in 2020 to P26 billion in 2025. This increase enhances the bank’s funding capacity and its ability to support lending and investment activities.

Looking beyond its Vision 2025 strategy, the bank has outlined a longer-term ambition for 2030, aiming to establish itself as the “financial solutionist of choice.” This strategy emphasizes customer experience, sustainable growth, transformation, employee empowerment, and value preservation.

FNBB pursues these goals amid ongoing economic challenges. Botswana continues efforts to diversify its economy beyond diamond mining, while businesses face subdued demand and tight financing conditions. In response, FNBB has positioned itself not just as a conventional bank but as a partner in broader economic development, engaging in infrastructure and logistics initiatives and participating in the Botswana Economic Transformation and Prosperity program.

The bank also remains committed to supporting small and medium-sized enterprises through its FirstPreneur initiative, offering mentorship, financial products, and networking opportunities. Additionally, FNBB reported investing P387 million in citizen economic empowerment projects.

In previous statements, CEO Steven Lefentse Bogatsu emphasized that FNBB’s role extends beyond traditional banking to contributing meaningfully to communities and Botswana’s long-term development.

Shareholders will now await the official release of the bank’s 2026 financial results in September. Should the projected profit increase materialize, FNBB will have achieved a significant milestone, with earnings surpassing the P2 billion mark and accelerating beyond the six percent growth recorded last year.

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