Barclays targets turnaround after tough year
Wednesday, February 12, 2014
Yesterday, the country’s second biggest bank by balance sheet unveiled a sombre set of full year 2013 results indicating a 34% drop in after-tax profits to P295.8 million. Net interest income was five percent lower at P1.15 billion, while operating expenses were 10% higher on administrative costs and depreciation.
Impairments jumped 58% to P198 million on methodology changes described by executives as “catching up to provisions” as well as debt stress among the households, who anchor the flagship retail sector.
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...