BancABC enhances digital platforms
BancABC Botswana is enhancing its banking channels as well as seeking ways to improve transactional capabilities, according to the Managing Director, Kgotso Bannalotlhe.
Last year the bank continued with its strategic focus of ensuring that customers received service excellence through implementation of the retail banking digital platforms. These include SARUMoney in the first quarter of the year and the rolling out of ATMs in locations outside of Gaborone.
Writing in the 2020 annual report, he said 2021 is an opportunity for the nation and the rest of the globe to rebuild. “I look forward to enhancing our channels as we continue to enhance our customers’ banking experience. At the same time, we will always seek ways to improve our transactional capabilities in order to attract a wider segment of customers and grow our business, therefore creating sustainable value for all our stakeholders,” said Bannalotlhe.
The period ahead remains uncertain for the consumer while the business is focused on providing compelling and necessary solutions and building strong partnerships to be the epi-centre of its customers’ life moments. During the year, the bank saw its Commercial Banking segment profit after tax decline by 61 percent compared to the previous reporting period due to reduced demand for lending. Despite the loan book reducing significantly during the year, Retail Banking grew as the bank recorded an increase in the number of digital customers.
Meanwhile, BancABC Finance Director, Ratang Icho-Molebatsi said they expect growth in the commercial lending portfolio next year as treasury and global markets are likely to continue on their upward trajectory. “The management team is well equipped to continue the journey of improving shareholder value and ultimately the return on equity.” She said the deposits from customers declined by about 5.8 percent to P6.6 billion due to the corporate sector experiencing reduced operating cash flows. The retail deposits increased by 12 percent during the year. “The allocation of deposits during the year has shown a notable increase on call accounts assisting in reducing the cost of funding, which is one of our key strategic focus areas.”
For her part, BancAbc Chairperson, Lerato Mosetlhanyane said the bank will be looking to continue adding functionality as well as introducing new products to ensure greater relevance and reach to customers. “There will be continued effort on transactional capabilities to attract a wider segment of customers for growth and to improve the efficiency of the balance sheet, and improve return on equity and return on assets.”