Competition compels Barclays to slash customer costs

Botswana's second-oldest bank is doing this in a bid to retain its leading role in providing banking solutions.Announcing the company's results for the year ended 31 December 2010, Acting CEO Wilfred Mpai, said in a 100-day period stretching from the back end of 2010 to early this year, the bank had come up with new initiatives to attract new customers and retain existing clients.

"After a challenging period in the year due to the financial difficulties globally, we are now starting to open up again to the market in a cautious manner, and the results are beginning to be seen," he said.