BSB’s net profit jumps 230%

Delivers P76.8m net profit from P23.3m

STAFF WRITER

editors@thepatriot.co.bw

Botswana Savings Bank (BSB) has hailed its bold three-year strategy – Lesedi 2022-2025 – for its robust performance in the financial year ending March 31, 2025.

The strategy came to close on March 31, 2025 with the bank delivering an extra-ordinary 230 per cent jump in Net profit of P76.8 million compared to P23.3 million in the prior year.

“This significant growth was underpinned by a robust expansion in the asset base and a notable contribution of P24.4 million from BSB Insurance Services to the Group’s overall performance. The Bank’s strategic emphasis on broadening its service offerings and driving operational excellence has demonstrably enhanced shareholder value and reinforced the institution’s competitive positioning in the market. Net Interest Income registered a substantial year-on-year growth of 80%, reaching P312 million compared to P173 million in the prior year,” said the bank’s directors in a statement accompanying the results.

The directors pointed to the Bank’s recalibrated sales strategy for the massive performance, saying they undertook a “strategic expansion of direct sales agency network, an upward revision of the maximum loan thresholds, and the extension of loan tenures available to clients”.

The bank’s Net Advances recorded a commendable 63% increase, rising to P4.4 billion from P2.7 billion in the previous year—underscoring the Bank’s sustained momentum in deepening market penetration and broadening its asset and customer portfolios.

The bank further expanded Customer deposits by 63%, reaching P4.1 billion compared to P2.5 billion in the prior year.

Botswana Savings Bank is thriving this financial year and expects to further beat set targets.

“The bank expects to meet, if not surpass, its financial targets in the coming year. Our ongoing digital transformation initiatives are anticipated to bring the much-needed efficiencies, cost reduction, and revenue growth. Additionally, the bank continues to engage with the government regarding the privatization of the bank. While discussions are ongoing, our focus remains on commercializing the bank and preparing it for eventual privatisation. We view this as a pivotal enabler that will allow BSB to compete on equal footing, unlock new markets, and deepen its development impact.