Africa-Press – Botswana. The bank has projected a rise of between 10% and 20%, which equates to an increase of P40m to P81m over P403m reported for the same period in 2023.
Standard Chartered Bank Botswana anticipates a significant increase in its profit before tax (PBT) for the year ending 31 December 2024.
The bank’s board has projected a rise of between 10 percent and 20 percent, which equates to an increase of P40 million to P81 million over the P403 million reported for the same period in 2023.
The forecast increase in profits is part of the bank’s annual performance review, which was disclosed in a cautionary statement filed with the Botswana Stock Exchange (BSE).
On or before 31 March 2025
In the statement, the bank – which is a prominent player in Botswana’s financial sector – informed shareholders of the expected rise in PBT and provided guidance on the upcoming financial results.
“The Board of Standard Chartered Bank Botswana Limited wishes to advise shareholders that the audited consolidated Profit Before Tax for the year ended 31 December 2024 will be approximately between 10 percent to 20 percent higher than the P403 million reported for the year ended 31 December 2023,” the statement read.
It added that the full financial results will be made available on or before 31 March 2025.
Subject to change
However, the bank noted that the figures provided in the trading statement are subject to change, cautioning investors that the actual results could differ from the current projections.
“Accordingly, shareholders and investors are advised to exercise caution when dealing in the company’s securities until a full announcement is made,” the statement continued.
Standard Chartered Bank Botswana has a rich history in the country, having first opened its doors in Francistown in 1897.
11 branches
It became the first bank in Botswana and expanded its reach with branches in Lobatse, Mahalapye and Gaborone throughout the 20th century.
Today, the bank operates 11 branches and four express banking centres, with a large network of direct sales representatives (DSRs).
Standard Chartered Bank Botswana offers a wide range of products and services across retail, corporate, and institutional banking.
Cross-border transactions
Its retail banking division provides transactional, wealth management, and lending services while its corporate and institutional division offers products such as cash management, trade services, and corporate finance advisory.
The bank leverages its extensive global network to deliver expertise in cross-border transactions, fixed income and currency markets.
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