Bank Gaborone bounces back to profitability
Friday, November 25, 2016
Bank Gaborone has been operating in Botswana for 10 years
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.
It is a clear signal that the government’s purse is empty and that our own behaviour has left veterinary officials fighting with one hand tied behind their backs. We have been here before. During COVID-19, many of us thought we knew better. We ignored simple rules, we carried on as if the danger was someone else’s problem, and the virus took lives and left our economy on its knees. We are still broke from that experience. Yet now, with FMD...