Bank Gaborone�s recovery firms as profits double

Bank Gaborone is strong on the recovery path
Bank Gaborone is strong on the recovery path

After a bad 2015, Bank Gaborone continues on the recovery path with the bank registering an almost 100% growth in profits in the year ended June 2017, largely due to a prudent approach to credit and a strong capital adequacy ratio.

The bank’s net profit after tax (PAT) shot up by 97.6% to P35.8 million for the financial year ended June 2017 compared to P18 million in the prior year, and realising a return on average of 10.4%.

In a commentary accompanying the financial results, managing director of Bank Gaborone, Sybrand Coetzee said this was the second consecutive year of profit growth in excess of 90%, emphasising the consistent performance of the bank. Net interest income increased by 36.9% from P133.8 million to P183 million, which is attributed to a reduction in cost of funding as a result of improved liquidity in the market compared to the previous year.

Editor's Comment
Congratulations Anicia Gaothuse!

The contest had 10 beautiful young girls as finalists and unfortunately only one could wear the crown.The judges picked Anicia Gaothuse. To all those who feel their contestant should have won ahead of Anicia for whatever reason, hardly; the judges found Anicia to be the best among the best, so desist from disrespecting our newly crowned queen on social media or anywhere else, for that matter! Each of the 10 beautiful young women had supporters...

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