{"id":35574,"date":"2023-10-01T06:25:43","date_gmt":"2023-10-01T06:25:43","guid":{"rendered":"https:\/\/www.africa-press.net\/botswana\/?p=35574"},"modified":"2023-10-01T07:02:42","modified_gmt":"2023-10-01T07:02:42","slug":"stanchart-posts-impressive-results","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/botswana\/all-news\/stanchart-posts-impressive-results","title":{"rendered":"Stanchart posts \u2018impressive\u2019 results"},"content":{"rendered":"<p><span style=\"color: #ff6600\"><strong>Africa-Press &#8211; Botswana. <\/strong><\/span><b>BSE quoted banker, Standard Chartered has released its interim financial results for the year ended 30th June 2023. Among the highlights is a 57 percent increase in net interest income to P370 million (HY2022: P236 million).<\/b><\/p>\n<p>The bank\u2019s Non-funded income was down 8 percent year-on-year to close at P153 million while Profit before tax went up 239 percent to reach P241 million (HY2022: P71 million).<\/p>\n<p>The financials also reflect a Net profit increase of 230 percent to P191 million (HY2022: P58 million). Total Risk Weighted Assets were down 2 percent to P8.23 billion (HY2022: P8.51 billion).<\/p>\n<p>The banker has also reported that its deposit from customers went down 1.4 percent to P12.67 billion (HY2022: P12.85 billion) while the balance sheet has reduced by 1.1 percent to P16.24 billion since the release of their last year end results.<\/p>\n<p>Shareholders will be pleased to learn that the bank\u2019s Basic earnings per share is now 63.93 thebe per share while the Book value of equity increased 9.4 percent to P1.13 billion (HY2022: P1.03 billion).<\/p>\n<p>The bank\u2019s Chief Executive Mpho Masupe said this was achieved through solid income performance, growing by 30 percent year on year with the growth coming from both underlying business momentum particularly in Corporate, Commercial and Institutional Banking (CCIB) and improving interest rate environment.<\/p>\n<p>\u201cWe maintained a resilient liquidity position over the period with a strategic focus on optimal deposit mix. Low cost deposit mobilisation is expected to gradually reduce the holding of expensive deposits,\u201d said Masupe.<\/p>\n<p>Masupe said during the first half of the year, Stanchart continued to introduce innovative derivative products to mitigate risks and improve the yield for its clients.<\/p>\n<p>As part of its digital transformation journey, Stanchart says it became the first bank in Botswana to process end to end trade financing and disbursement to clients on their platform. Masupe said that the development is improving cost efficiency and that the uptake and appetite is encouraging.<\/p>\n<p>\u201cWe are going further to introduce and incubate new products into the market working closely with our clients,\u201d he said.<\/p>\n<p><strong>For More News And Analysis About <a href=\"https:\/\/www.africa-press.net\/botswana\">Botswana<\/a> Follow <a href=\"https:\/\/www.africa-press.net\/\">Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Africa-Press &#8211; Botswana. BSE quoted banker, Standard Chartered has released its interim financial results for the year ended 30th June 2023. Among the highlights is a 57 percent increase in net interest income to P370 million (HY2022: P236 million). The bank\u2019s Non-funded income was down 8 percent year-on-year to close at P153 million while Profit [&hellip;]<\/p>\n","protected":false},"author":84,"featured_media":35573,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[233,237,234],"class_list":["post-35574","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press","tag-africa-press-botswana","tag-botswana"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.1 (Yoast SEO v27.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Stanchart posts \u2018impressive\u2019 results - Botswana<\/title>\n<meta name=\"description\" content=\"BSE quoted banker, Standard Chartered has released its interim financial results for the year ended 30th June 2023. 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