Gaborone - First National Bank Botswana (FNBB), a unit of the FNB group, has recorded a drop in interim profits despite an increase in advances, company executives told the media on Friday.
For the six months to December 2014, FNBB reported a profit of P343.3m (about R414.5m), down 5% on the previous reporting period.
"We continue to operate under a tough trading environment," said acting CEO Richard Wright.
"We also see more consumers borrowing, but fewer of them are depositing."