Barclays profits fall 30% on market headwinds

Reinette Van Der Merwe.PIC MORERI SEJAKGOMO
Reinette Van Der Merwe.PIC MORERI SEJAKGOMO

A combination of low interest rates, fee moratorium and tight liquidity conditions ate into Barclays Bank of Botswana’s financial results for the half-year ending 30 June 2015.

During the period, the bank registered profit before tax of P110 million, which is lower than the P160 million recorded in the same period last year.

However, Barclays managing director, Reinette van der Merwe said the results were satisfactory considering the current unfavourable economic environment that the bank is operating under.

Editor's Comment
Oh what a State funeral!

That rare sight deserves heartfelt praise, not only for President Duma Boko and his administration, but also for the Botswana Democratic Party (BDP), the Umbrella for Democratic Change (UDC), the Mogae family, and the entire country.President Boko’s decision to grant a full state funeral to a man who belonged to a rival party was a mark of true statesmanship. He recognised that national leadership carries a weight that belongs to the whole...

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