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Access Bank Botswana expects its profit before tax for the first half of 2026 to fall by between 40% and 50%, largely due to a P48 million once-off cost associated with a voluntary separation programme.
The bank announced in a cautionary statement that its profit before tax for the six months ended 30 June 2026 will be approximately P24 million to P30 million lower than the P60 million recorded during the corresponding period in 2025.
This means Access Bank Botswana's profit before tax for the period is expected to come in at between P30 million and P36 million.
According to the bank, the reduction in profit is largely attributable to the successful once-off implementation of its voluntary separation programme during the first half of 2026. The programme resulted in P48 million being paid out in employee exit packages as part of the bank's efforts to enhance operational efficiency and position the business for sustainable future growth.
Excluding the once-off cost of the separation programme, Access Bank Botswana said its underlying profit increased by 37% compared with the corresponding period in 2025.
The figures suggest that while the restructuring initiative will have a significant impact on the bank's reported short-term profitability, its underlying business performance improved during the period.
The voluntary separation programme appears to form part of a broader effort by Access Bank Botswana to improve efficiency. While the immediate cost of the programme has significantly affected the bank's half-year results, the potential benefits of a more efficient cost structure could become clearer in future reporting periods.