Stanbic Bank profits bounce back

Gabaraane
Gabaraane

A combination of improved non-interest income coupled with a 50 percent reduction in impairments costs saw Stanbic Bank Botswana’s profit rising 45 percent in the year ended December 2015. The stronger profit numbers are a significant improvement from the previous period when the bank’s profit after tax fell 62 percent against 2013 figures.

Despite challenges that included company closures, household over indebtedness, drought, water and power challenges, Stanbic says the improved profits resulted from refined operational efficiencies.

In the period, the bank’s profit after tax stood at P132 million    from P91 million, driven by an 18 percent growth in non-interest income.

Editor's Comment
Consult, get buy-ins first for 6 to 6 policy, Hon Minister

While the minister is of the view that the proposal would have significant positive economic impact, the entertainment industry players believe otherwise. The issue has over the weeks become a hot potato. But what is of essence right now is that the country needs liberal ideas to move in the right direction While opening up the economy may sound quite interesting to the ear, rolling out extended trading hours through pilot programmes without...

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