Barclays profits jump 49% in 2016

Renniette Van Der Merwe
Renniette Van Der Merwe

Barclays Bank of Botswana made a pretax profit of P494.5 million in the year ended December 31, 2016 representing an increase of 49% from the previous year.

According to the bank’s recently announced financial results, the profit rise was driven by sustained revenue growth in the retail and business banking as well as the corporate and investment banking. These two segments grew by 11% and 30% respectively.

“The bank has continued to make progress in growing the key business segments in the various sectors of the economy,” managing director (MD), Reinette van der Merwe said.

Editor's Comment
Tana project a welcome development

Whilst the project received mixed reactions from members of the public, the project is indeed a welcome development, which needs to be implemented as soon as possible. Many shared their opinion, with those against the project decrying that if implemented, it will kill the already struggling public transport industry.Many countries around the world have state-run public transport, and those who have travelled to such countries will give testimony...

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