By Delisa Thwala
The First National Bank (FNB) Eswatini saw a rich increase in their profits before tax.
For their financial year 2024, the bank had an E365 million profit before tax, which is an 11.6 per cent increase from the E327 million they profited in 2023.
Profit after tax also increased from last year by 9.5% as it stood at E268.8 million while in 2023 it was E245.3 million.
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These findings were presented by the bank in their 2024 Annual Financial Results stakeholders meeting held at their Headquarters in Ezulwini.
Among many highlights, the Bank’s CEO Dennis Mbingo commended his team’s accountability in handling money and customer/client relations.
Meanwhile, the key financial metrics have mostly trended positively in the June 2024 financial year.
“We had a steady and very active year as a bank.
This financial year was good, and we are still rooted in accountability,” said Mbingo.
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The report further reflects that return on equity remained the same at 21.8% which was the same in 2023.
The net income after the cost of capital increased by 5.1% as it stood at E52 597 while in 2023 it stood at E50 047.
