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
Gov't must guard against cadre deployment

As the Botswana National Front (BNF) discusses a policy to place suitably qualified members in strategic positions, the guiding consideration should remain whether an individual is the best person to serve the country. There is nothing wrong with qualified party members applying for public positions. Political affiliation should neither disqualify a capable candidate nor give them an advantage over others. Every Motswana deserves a fair...

Have a Story? Send Us a tip
arrow up