NDB posts P87m loss on high impairments
Monday, June 01, 2015
NDB CEO: Lorato Morapedi
In a statement released on Friday, CEO Lorato Morapedi said that despite the expected loss, the bank registered growth in interest income, assets and advances. According to Morapedi, interest income increased by eight percent from P202 million in 2013 to P218 million.
“Operating expenses increased by only 4 percent which is indicative of the Banks efforts to manage costs in an environment of increasing administration costs,” she said.
When the State cannot rely on its own machinery to pursue suspected wrongdoing, repairing that machinery must become a national priority.The establishment of a Special Investigations and Asset Recovery Task Force may help government respond to the immediate challenge. However, Botswana cannot afford to leave the Directorate on Corruption and Economic Crime (DCEC) and the Directorate of Public Prosecutions (DPP) struggling whilst building...