•  Recruitment: Bank of Baroda (Botswana) Ltd
    1. Senior Manager Credit 2.  Senior Manager Internal Audit  • Candidates fulfilling the above eligibility criteria may apply with their CV to the following address, within fourteen (14) days from the date of publication of the advertisement.
  • VACANCY: Wilderness Air Botswana 
    HEAD OF TRAINING  Closing Date: 17h00 on Sunday 18th December 2022
  • THE 11TH BOMU AWARDS CLOSES CURTAIN ON A GRATIFYING ENTERTAINMENT WEEK
    With the 11th Botswana Musicians Union (BOMU) awards capping off what was a successful Botswana International Entertainment Week it is safe to say the awards season has amazingly concluded in style! From Women of Song workshop in the beginning […]
  • Climate crisis threatens Okavango delta, tourism
    CALISTUS BOSALETSWE editors@thepatriot.co.bw A dozens of hippos  trapped to death in the mud  at Lake Ngami which receive water inflow from Okavango Delta is a peculiar sight  in the delta  which has a potential to affect the  tourism. The […]
  • Botswana financial markets attractive to investors
    BAKANG TIRO editors@thepatriot.co.bw Experts in the local financial market services sector have reiterated Botswana attractiveness to investors; drawing from the just released Absa Africa Financial Markets 2022 Index report. Absa Bank Botswana brought together local financial experts to unpack […]
Wednesday, December 7, 2022
17 °c
Gaborone

Tag: STANCHART

Stan-Chart in third year of profit growth

Stan-Chart in third year of profit growth

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 ...

  •  Recruitment: Bank of Baroda (Botswana) Ltd
    1. Senior Manager Credit 2.  Senior Manager Internal Audit  • Candidates fulfilling the above eligibility criteria may apply with their CV to the following address, within fourteen (14) days from the date of publication of the advertisement.
  • VACANCY: Wilderness Air Botswana 
    HEAD OF TRAINING  Closing Date: 17h00 on Sunday 18th December 2022
  • THE 11TH BOMU AWARDS CLOSES CURTAIN ON A GRATIFYING ENTERTAINMENT WEEK
    With the 11th Botswana Musicians Union (BOMU) awards capping off what was a successful Botswana International Entertainment Week it is safe to say the awards season has amazingly concluded in style! From Women of Song workshop in the beginning […]
  • Climate crisis threatens Okavango delta, tourism
    CALISTUS BOSALETSWE editors@thepatriot.co.bw A dozens of hippos  trapped to death in the mud  at Lake Ngami which receive water inflow from Okavango Delta is a peculiar sight  in the delta  which has a potential to affect the  tourism. The […]
  • Botswana financial markets attractive to investors
    BAKANG TIRO editors@thepatriot.co.bw Experts in the local financial market services sector have reiterated Botswana attractiveness to investors; drawing from the just released Absa Africa Financial Markets 2022 Index report. Absa Bank Botswana brought together local financial experts to unpack […]

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