• Debswana completes refurbishment of Camphill Trust projectSeptember 11, 2025
    The Orchard Restaurant reopens   GORATAONE KGOSIMORE RelatedPosts Debswana completes refurbishment of Camphill Trust project KHAMA IV INITIATIVES SPARK TRIBAL TENSIONS BSB leads Africa’s banking revolution  editors@thepatriot.co.bw   Debswana through itsCorporate Social Investment (CSI) Programmelast year funded the Camphill… Read more: Debswana completes refurbishment of Camphill Trust project
  • KHAMA IV INITIATIVES SPARK TRIBAL TENSIONSSeptember 11, 2025
    Nkange MP dismisses Bangwato authority in Tutume To bring motion to repeal of Tribal Territories Act ‘It’s not asserting control but promotion of arts, sports’- Khama IV KITSO RAMONO editors@thepatriot.co.bw RelatedPosts Debswana completes refurbishment of Camphill Trust project KHAMA… Read more: KHAMA IV INITIATIVES SPARK TRIBAL TENSIONS
  • BARODSA VACANCY – Managing Directorcum Chief Executive OfficerSeptember 10, 2025
    RelatedPosts BARODSA VACANCY – Managing Directorcum Chief Executive Officer GREAT PLAINS- VACANCY CHOPPIES VACANCY – CHIEF OPERATIONS OFFICER (COO)
  • GREAT PLAINS- VACANCYSeptember 10, 2025
    RelatedPosts BARODSA VACANCY – Managing Directorcum Chief Executive Officer GREAT PLAINS- VACANCY CHOPPIES VACANCY – CHIEF OPERATIONS OFFICER (COO)
  • CHOPPIES VACANCY – CHIEF OPERATIONS OFFICER (COO)September 9, 2025
    RelatedPosts BARODSA VACANCY – Managing Directorcum Chief Executive Officer GREAT PLAINS- VACANCY CHOPPIES VACANCY – CHIEF OPERATIONS OFFICER (COO)
  • Home
  • News
  • Business
  • Lifestyle
  • Sport
  • Analysis & Opinions
  • Vacancies & Tenders
  • Login
  • Register
Friday, September 12, 2025
The Patriot On Sunday
Advertisement
  • Home
  • News
  • Business
  • Lifestyle
  • Sport
  • Analysis & Opinions
  • Vacancies & Tenders
No Result
View All Result
Cart / $0.00

No products in the cart.

  • Home
  • News
  • Business
  • Lifestyle
  • Sport
  • Analysis & Opinions
  • Vacancies & Tenders
No Result
View All Result
The Patriot On Sunday
No Result
View All Result

Stanbic profit hits P484 million 

patriot by patriot
July 25, 2024
in Business
0


Stanbic Bank Botswana closed the year 2023 on a high note with P484 million profit reflecting nine percent growth as compared to P444 million that was achieved in 2022, the bank has revealed in its 2023 annual report. The Bank Chief Executive (CE) Chose Modise said despite the economic headwinds, they are delivering on their objectives of diversifying revenue through non-traditional banking services, optimising the balance sheet and improving margins.. “Our sense of resolve manifests clearly in our financial results for 2023. I am pleased to report a 9.0% increase in profit after tax, up from P444 million in 2022 to P484 million in the 2023 reporting period,” said Modise. Modise also said one year into their newly launched Letsema 2025 corporate strategy, the bank’s proactive revenue generation models are bearing fruit: with topline revenue having increased by 16.7%. 

At the same time, he said their focused cost optimisation philosophy has earned them a Cost-to Income Ratio of 52.8%, lower than 58.3% in 2022. This kind of performance would not be possible without the delivery of consistently exceptional client experiences. It is an assertive message that we are in touch with our clients’ needs and that our strategy is delivering on its promises. It is also an affirmation that our culture and strategy are in sync,” he added. For her part, Chief Finance and Value Management Officer- Realeboga Phoi said as a result of the review of the operating model, the bank’s balance sheet grew by 4.2%, led largely by a restructure of deposits which saw a 3.6% growth and loans and advances to customers increasing marginally by 0.5%. 

RelatedPosts

BSB leads Africa’s banking revolution 

RMB hosts CEOs Roundtable on Renewable Energy

BIHL withstands tough times

“2023 presented us with a liquidity-constrained environment, however the bank’s focus on financial literacy, attracting younger clients and the informal sector – via the Youth Account, Unayo and the enhanced self-service channels – resulted in a noticeable growth in household deposits Phoi added. Phoi also said the bank’s balance sheet structure comes from its focus on risk management and prudent utilisation of its liquidity pool, also evidenced by a growth in financial investments by 26.1%. 

In addition, she said the Corporate and Investment Banking (CIB) in 2023 posted a profit of P263 million (2022: P195 million) a 34% growth year on year largely attributable to balance sheet optimisation strategies as well as a continued improvement in asset book credit risk management excellence. “The bank’s loan 
to deposit ratio improved from 71% to 69% in 2023. The bank’s leadership, through its Assets and Liabilities Committee (ALCO), is charged with the management of liquidity. “Our technology enhancements make it easier for clients to access our products and services, playing a key role in the maintenance of liquidity,” emphasized Phoi. 

Phoi also noted that their operating expenses grew by 5.6%, largely driven by a once-off 19.4% growth in staff costs at the back of the redesign exercise that the bank embarked on. 

Previous Post

Botswana’s economic growth slows to 1% in 2024 -IMF 

Next Post

EXTERNAL VACANCIES

Related Posts

BSB leads Africa’s banking revolution 
Business

BSB leads Africa’s banking revolution 

September 9, 2025
RMB hosts CEOs Roundtable on Renewable Energy
Business

RMB hosts CEOs Roundtable on Renewable Energy

September 4, 2025
BIHL withstands tough times
Business

BIHL withstands tough times

September 4, 2025
Botswana\’s Top 100 CEOs unveiled
Business

Botswana\’s Top 100 CEOs unveiled

August 29, 2025
Betway fixingwithdrawal glitches
Business

Betway fixingwithdrawal glitches

August 29, 2025
Bold pitch for BETP
Business

Bold pitch for BETP

August 27, 2025
Next Post

EXTERNAL VACANCIES

  • Debswana completes refurbishment of Camphill Trust projectSeptember 11, 2025
    The Orchard Restaurant reopens   GORATAONE KGOSIMORE RelatedPosts Debswana completes refurbishment of Camphill Trust project KHAMA IV INITIATIVES SPARK TRIBAL TENSIONS BSB leads Africa’s banking revolution  editors@thepatriot.co.bw   Debswana through itsCorporate Social Investment (CSI) Programmelast year funded the Camphill… Read more: Debswana completes refurbishment of Camphill Trust project
  • KHAMA IV INITIATIVES SPARK TRIBAL TENSIONSSeptember 11, 2025
    Nkange MP dismisses Bangwato authority in Tutume To bring motion to repeal of Tribal Territories Act ‘It’s not asserting control but promotion of arts, sports’- Khama IV KITSO RAMONO editors@thepatriot.co.bw RelatedPosts Debswana completes refurbishment of Camphill Trust project KHAMA… Read more: KHAMA IV INITIATIVES SPARK TRIBAL TENSIONS
  • BARODSA VACANCY – Managing Directorcum Chief Executive OfficerSeptember 10, 2025
    RelatedPosts BARODSA VACANCY – Managing Directorcum Chief Executive Officer GREAT PLAINS- VACANCY CHOPPIES VACANCY – CHIEF OPERATIONS OFFICER (COO)
  • GREAT PLAINS- VACANCYSeptember 10, 2025
    RelatedPosts BARODSA VACANCY – Managing Directorcum Chief Executive Officer GREAT PLAINS- VACANCY CHOPPIES VACANCY – CHIEF OPERATIONS OFFICER (COO)
  • CHOPPIES VACANCY – CHIEF OPERATIONS OFFICER (COO)September 9, 2025
    RelatedPosts BARODSA VACANCY – Managing Directorcum Chief Executive Officer GREAT PLAINS- VACANCY CHOPPIES VACANCY – CHIEF OPERATIONS OFFICER (COO)
The Patriot On Sunday

© 2024 Copyright The Patriot On Sunday - Inspired by Search Mart.

Navigate Site

  • About Us
  • Advertise
  • Disclaimer
  • Contact Us

Follow Us

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Login
  • Sign Up
  • Cart
  • Home
  • News
  • Business
  • Lifestyle
  • Sport
  • Analysis & Opinions
  • Vacancies & Tenders

© 2024 Copyright The Patriot On Sunday - Inspired by Search Mart.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?