Ezulwini – FNB Eswatini has reported a profit after tax of E268.8 million for the 2024/25 financial year, maintaining its market leadership despite flat growth compared to the previous year.
The results were unveiled during the bank’s annual financial results presentation held on Thursday at its Head Offices in Ezulwini.
The bank’s total assets surged to E10.3 billion, representing a 6% increase from the prior year.
Advances grew by 13% to E4.7 billion while deposits rose by 5% to E6.6 billion, stating customer confidence and a stronger balance sheet. However, the cost-to-income ratio rose from 59.2% to 63.3%, reflecting the bank’s heavy investment in people and technology.
Unpacking the results, Chief Financial Officer, Njabulo Dlamini, said the 18% increase in operating expenses was linked to deliberate investments in human capital, technology, regulatory compliance, and channel enhancements.
“We continued investing in our people and platforms, which are critical to driving future growth,” he noted.
FNB Eswatini Chief Executive Officer, Thokozani Dlamini, highlighted the bank’s milestones, including the successful onboarding of CIO and CPO functions, new hires across retail, commercial, and IT segments, as well as CEO roadshows to engage employees on the bank’s strategy.
“We led with employee experience, strengthening the backbone of our business while embedding connections for future success,” he said.
Dlamini further announced major projects completed in the year, such as joining the Eswatini Payment Switch for instant local bank transfers, completing the CMA EFT migration to SWIFT, and launching an evolved private banking value proposition.
On the corporate front, FNB financed Eswatini’s first green loan for a solar power generation plant, reinforcing its role in driving sustainable economic growth.
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