ABSA Bank of Botswana (Botswana) expect PBT to be 30-40% higher than year prior

By Published On: September 9th, 2022Categories: Corporate announcement

Absa Bank Botswana Limited (“the Company”) is required, in line with the Botswana Stock Exchange (“BSE”) Listings Requirements, to announce through the BSE and to shareholders any circumstances or events that have, or are likely to have, a material effect on the financial results of the Company for the period to be reported on.

The Board of the Company therefore hereby advises the shareholders that the Company’s condensed consolidated half year results for the period ended 30 June 2022 will be higher than those reported for the period ended 30 June 2021. Profit before tax is expected to be higher by between 30 – 40 percent, (approximately P87 million to P116 million) than what was reported for the period ended 30 June 2021, which amounted to P290 million.

The full details will be provided to the shareholders at the announcement of the condensed consolidated half year financial results due to be released on 15 September 2022.

Accordingly, the shareholders of the Company and potential investors are advised to exercise caution when trading in the Company’s securities until the results are formally published.

By order of the Board of Directors

Daniel Neo Moroka

Board Chairman

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