Stanchart posts lukewarm results

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Botswana's oldest bank, Standard Chartered, has announced a lukewarm set of results for the year ended December 31, 2010 with profit levels going down because of the prevailing low interest rate regime.

Stanchart, which has maintained its low risk asset preference strategy over the years, thereby limiting the growth of its loan book compared to its peers, saw net interest income weaken by 2.6 percent to P484 million while profit after tax slid 4.7 percent to P224 million.

The bank realised suppressed interest margins for the year due to the low interest rate regime adopted by the Bank of Botswana last year.

Editor's Comment
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