Just days after welcoming over 20 members from different parties, the Alliance for Progressives saw its week ending on a...

The MP for Maun West Tawana Moremi has blasted Government for giving Ngamiland people’s land to the whites, who now...

The outspoken Botswana Democratic Party (BDP) back bencher Paulsen Majaga seems to have rubbed senior members of his party the...

Following a storm that build over media reports - mostly from Zimbabwe - that Botswana was about to offer Zimbabwe...

There is need for increased individual participation for the Botswana financial sector to grow. The Governor of the Bank of...

Standard Chartered PLC has released its results for the year ended 31 December 2018.    “We have made tremendous progress securing the foundations of the business since 2015, resulting in a third successive year of underlying profit growth. Our refreshed priorities will help realise the true value of the franchise. We will measure this not only in monetary terms with double-digit equity returns and significant shareholder distributions targeted by 2021, but also in the positive impact to our clients, stakeholders and communities. We are determined to drive commerce and help our clients achieve prosperity while doing everything that we can to make the world a cleaner, safer and more sustainable place,” said Bill Winters, Group Chief Executive. There has been further significant improvement in returns. Significant improvement in profitability driven by higher quality income growth with cost and asset origination discipline; Operating income of $15.0bn was up 5%, with RWAs down 8%; Broad-based by product, with Transaction Banking growing particularly strongly driven by Cash Management; Wealth Management grew 3% but momentum slowed as sentiment weakened in the second half; Strong performance in GCNA region; challenging conditions in AME region; and Net interest income increased 8% and the net interest margin improved 3 basis points to 1.58% The Group has delivered $3.2bn in gross cost efficiencies, exceeding the target set in November 2015; Cash investments of $1.6bn were up 9%, with the amount allocated to strategic initiatives trebling over the last three years. The UK bank levy was $324m; in 2021 it will be chargeable on only the Group’s UK balance sheet; and Asset quality improved due to a continued focus on higher quality origination within a more granular risk appetite. Credit impairment of $740m was 38% lower with significant improvements in CIB and RB;Underlying profit before tax of $3.9bn was up 28% driven by the Group’s largest segments and regions; Statutory profit before tax of $2.5bn is stated after provision for regulatory matters and restructuring and other items and was 6% higher. The Group made a $900m provision in respect of legacy financial crime control matters and FX trading issues; Restructuring and other items included Q4 charges of $158m following the announcement to sell Principal; Finance and $169m related to the refreshed strategic priorities announced. RoE improved 110 basis points to 4.6% and RoTE improved 120 basis points to 5.1%; Basic earnings per share increased 14.2 cents to 61.4 cents. The Board has recommended...

The rising threats of cataclysmic bloodshed within the ruling Botswana Democratic Party (BDP) are worrisome for the nation’s security and...

President Mokgweetsi Masisi outsmarted Pelonomi Venson Moitoi to come through the centre and seize the nomination of the Central Region...

The Minister of Mineral Resources, Green Technology and Energy Security Eric Molale has on Friday told the parliament that the...

Former Human Resource Manager at Statistics Botswana Marang Teisi is having the last laugh in her long running battle with...