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ABSA in the money

ON THE UP AND UP: Pheko-Moshagane

Bank registers 15 percent profit increase

Two months after its official name change, Absa Bank Botswana has announced a 15 percent jump in profits.

This week, the bank’s Managing Director, Keabetswe Pheko-Moshagane revealed that despite the challenges faced by the industry, Absa registered profit after tax of P678 million for the 12-month period ending 31 December 2019.

Highlighting the bank’s success, Finance Director, Mumba Kalifungwa explained it continued on a forward momentum of driving interest income growth through prudent lending across all segments.

“On a gross basis, int...

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