Visiting Stanchart bosses defend risk averse strategy

At a media briefing that was held in Phakalane on Tuesday, Peter Sands, Group Chief Executive Officer of Standard chartered bank PLC, which is the major shareholder  in Standard Chartered Botswana,  said  it's the  banking group strategy not to take a lot of risk in business and to be cautious.

Responding to a question from Mmegi Business Week on whether the strategy is still effective especially in Botswana where Standard Chartered has been overtaken by other aggressive  and risk taking banks , Sands who is based in London ,  defended the group's conservative strategy  saying " it is the reason why we have been in banking for such a long time,"