Stanchart records marginal growth

Thursday, August 25, 2016

Standard Chartered Bank Botswana has recorded marginal three percent year-on-year growth on its balance sheet despite operating in a ‘challenging trading environment’. In its unaudited financial results for the six months ended June 30, 2016, the bank registered an increase in net interest income by eight percent year-on-year.

Deposits from customers rose by one percent to P11.7 billion and loans to customers reduced by two percent, which was attributed to challenging market conditions.

Operating income remained flat year-on-year while operating expenses reduced by one percent to P335 million reflective of cost efficiencies realised in 2016.

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