17 Aug 2014

The Standard Chartered Bank Botswana Limited has delivered good set of results for the period ended June 30, 2014.

A news release from Standard Chartered Bank Botswana Limited states that the banks’ income is 13 per cent ahead of last year driven by strong performance from Retail Clients and increasing momentum from its Corporate and Institutional Clients segment

The trading profit, as per the release shows 21 per cent year on year growth. 

Despite the low interest rate environment putting increasing pressure on margins, the release says the business delivered strong balance sheet growth, with loans and advances increasing by 27 per cent and deposits also growing by a healthy 24 per cent

Commenting on the results, as per the release, chief executive officer, Mr Moatlhodi Lekaukau said “Retail Clients continue to drive asset growth with good diversification of products. Personal loans are performing well, while other areas such as mortgage lending show a strong growth trajectory.”

Mr Lekaukau also added that “the Corporate and Institutional Clients segment continues to leverage its global capabilities to bring superior solutions that meet our clients’ specific needs. 

In the first half of 2014 the bank concluded a number of significant trade transactions, again demonstrating the strength of our capabilities and balance sheet.

“On April 1, 2014, the release states that the bank rolled out its new One Bank strategy with a refined organisational structure that concentrates on two main customer segment groups – Retail Clients and Corporate and Institutional Clients.

This, Mr Lekaukau said allows Standard Chartered to bring more focus to the specific client segments and serve their needs from end to end in a seamless manner. 

He said the bank is already starting to realise some gains from this new development and is excited about the added value it will bring to their clients.

As part of Standard Chartered’s community investment agenda and demonstration of Here for good, the release said a number of projects were undertaken in the period under review, which included the building of a house for a disadvantaged youth in Sefophe.

“Spearheaded by the Selebi-Phikwe branch in partnership with the Broadhurst Choir, the project aimed to assist in having the hopes and dignity of the 23 year old who is orphaned and living with disability restored,” added the release.

The release further stated that, in the month of April, Standard Chartered declared Financial Literacy month. During this month, staff from across the country hosted financial literacy workshops at schools that have been adopted by individual units, branches and departments of the bank.

This, it said was done to share skills and expertise so as to educate and empower the youth in good financial management, and also to encourage employee volunteering.“

As a bank, we view employee volunteering as central to the very essence of what we stand for. Volunteering our time and skills helps us to be strong ambassadors for the bank and exhibits the true spirit of our brand promise – Here for good,” Mr Lekaukau added. Ends