Bank Gaborone bounces back to profitability

Friday, November 25, 2016

Bank Gaborone has been operating in Botswana for 10 years

Bank Gaborone made a profit after tax of P18 million in the year ended June 30, 2016 from a loss of P21.6 million in the previous year as cover for bad debts reduced by almost half.

While the 45% drop in impairment charges to P21 million helped shore up profits, the bank also gained from a 30% rise in net interest income to P133 million.

“Cost to income ratio reduced from 92% in June 2015 to 73% as at June 2016, mainly due to increase in net interest income, while costs decreased marginally following an enhancement of the effectiveness and efficiencies of processes,” said the bank.

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Bank Gaborone bounces back to profitability

Bank Gaborone made a profit after tax of P18 million in the year ended June 30, 2016 from a loss of P21.6 million in the previous year as cover for bad debts reduced by almost half.

Stanbic pretax profits up 11%

The audacity to be a unicorn

Faulty gadgets top complaints to BOCRA

Civil Society fights 'flawed' constitutional amendment

Civil Society calls for Constitution review governing Act

IEC rejects 2,513 registrations

Motshegwa prevails against detractors

Serowe woman ingests acid, attempts suicide

Inspect the voters' roll!