Botswana shines, as impairments cloud BancABC

Thursday, March 27, 2014

BancABC executives at a press briefing held in Gaborone this week. PIC MORERI SEJAKGKOMO

BancABC Botswana contributed nearly half of ABC Holdings’s attributable profits of P198 million, in a year in which the pan-African group’s performance was struck by a 137 percent jump in impairments, the highest seen recently among listed banks.

BancABC Botswana is one of the banking group’s subsidiaries along with Zambia, Zimbabwe, Mozambique and Tanzania.

The group’s results for the year ended December 31, 2013, unveiled on Tuesday, revealed that while Botswana led the stable in contributions to attributable profits, income and loan book size, bad debts overshadowed ABC Holdings’ sterling results.

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Botswana shines, as impairments cloud BancABC

BancABC Botswana contributed nearly half of ABC Holdings’s attributable profits of P198 million, in a year in which the pan-African group’s performance was struck by a 137 percent jump in impairments, the highest seen recently among listed banks.

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