ACCESS BANK BOTSWANA REPORTS RESILIENT 2024 FINANCIAL PERFORMANCE AMID STRATEGIC GROWTH SHIFTS.
- phenyobs
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Article By: Phenyo Babusi
Access Bank Botswana has announced its 2024 Financial Results, showcasing resilience, innovation, and sustainable growth. The bank’s balance sheet grew by 2%, driven by strategic financial decisions and investment in high-yielding short-term and corporate loans.
While customer deposits declined by 6% due to repricing of expensive term deposits, this move reduced the overall cost of funds. The loan-to-deposit ratio remained stable at 79%, reflecting a balanced lending strategy.
The bank saw strong asset performance, with debt instruments and investments increasing by 57%, primarily due to short-term investments and government bonds.
However, loans and advances to customers declined by 7%, as retail lending slowed due to stricter lending criteria.
Despite these shifts, total equity grew by 3%, reinforcing financial stability.
The results highlight Access Bank’s focus on efficient operations, strategic investments, and long-term value for stakeholders as it navigates the evolving financial landscape.