FNBB profits tumble 18%
Tuesday, September 01, 2015
While the bank’s top line interest earnings registered a modest four percent rise to P1.29 billion, a mammoth 43 percent rise in interest expenses, induced by the tight liquidity, effected a P415 million dent on net interest income. On the other hand, a 64 percent jump in impairment charges to P201 million, caused by the weak economic environment, further pulled the profits down.
According to Chief Executive Officer, Steven Bogatsu, the bank has done well under the prevailing circumstances.
The recent disclosure by the IEC that 2,513 registrations have been turned down due to various irregularities should prompt all Batswana to meticulously review the voters' rolls and address concerns about rejected registrations.The disparities flagged by the IEC are troubling and emphasise the significance of rigorous voter registration processes.Out of the rejected registrations, 29 individuals were disqualified due to non-existent Omang...