Stanbic Bank profits bounce back

Thursday, March 31, 2016

A combination of improved non-interest income coupled with a 50 percent reduction in impairments costs saw Stanbic Bank Botswana’s profit rising 45 percent in the year ended December 2015. The stronger profit numbers are a significant improvement from the previous period when the bank’s profit after tax fell 62 percent against 2013 figures.

Despite challenges that included company closures, household over indebtedness, drought, water and power challenges, Stanbic says the improved profits resulted from refined operational efficiencies.

In the period, the bank’s profit after tax stood at P132 million from P91 million, driven by an 18 percent growth in non-interest income.

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