Stanchart records marginal growth

Lekaukau
Lekaukau

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.

Editor's Comment
The corrupt must be punished

The findings reveal a disturbing pattern of misconduct and lack of transparency that cannot be ignored.The Tribunal, led by Judge President Justice Kabelo Lebotse, has rightly condemned the Ministry for its eyebrow raising conduct in awarding a P1.8 billion water tender to China Civil Engineering Construction Corporation (Pty) Ltd and Zhong Gan Engineering & Construction Corporation (Pty) Ltd.The award was made despite alleged clear evidence that...

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