Barclays profits fall 30% on market headwinds

Friday, September 25, 2015

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.

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Barclays profits fall 30% on market headwinds

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.