Bank Gaborone bounces back to profitability

Bank Gaborone has been operating in Botswana for 10 years
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.

Editor's Comment
Batswana need to do better to stop FMD

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...

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