{"id":47631,"date":"2024-04-26T17:54:30","date_gmt":"2024-04-26T17:54:30","guid":{"rendered":"https:\/\/www.africa-press.net\/botswana\/all-news\/stanbic-pretax-profits-up-11"},"modified":"2024-04-26T19:01:49","modified_gmt":"2024-04-26T19:01:49","slug":"stanbic-pretax-profits-up-11","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/botswana\/all-news\/stanbic-pretax-profits-up-11","title":{"rendered":"Stanbic pretax profits up 11%"},"content":{"rendered":"

Africa-Press – Botswana. <\/strong><\/span>Stanbic Bank Botswana\u2019s pretax profits for the year ended December 2023 came in 11% higher year-on-year at P661.1 million, helped by its corporate and investment banking division and restrained growth in operating costs.<\/b><\/p>\n

According to the full-year results published on the Botswana Stock Exchange, Stanbic\u2019s corporate and investment banking unit recorded pretax profits of P348.6 million, compared to P258.9 million in the prior year, representing a 35% increase.<\/p>\n

Profits within the bank\u2019s business and commercial clients unit fell by about 15% to P167.9 million in the year to December 2023, while the use of data analytics in the personal and private banking unit resulted in improved net interest income growth of six percent despite increased borrowing costs. Directors noted that profitability in the business and commercial client unit was affected by a once-off credit recovery in 2022 that skewed the performance last year.<\/p>\n

The directors said despite this, the unit has continued to improve book quality and closes the year with a credit loss ratio of 2.3 percent. Stanbic\u2019s loan book decelerated to P19.3 billion in the year to December 2023, from P20.1 billion in the prior year. Within that, loans to customers rose while loans to other banks retreated.<\/p>\n

Total impairment charges ended the year at P109 million against a normalised P110 million charge for 2022. The normalised charge for 2022 excludes the once-off recovery of P98 million for that year. Directors said the impairment charge in 2023 was, therefore, restrained looking at the economic headwinds and growth in customer loans.<\/p>\n

For More News And Analysis About Botswana<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Botswana. Stanbic Bank Botswana\u2019s pretax profits for the year ended December 2023 came in 11% higher year-on-year at P661.1 million, helped by its corporate and investment banking division and restrained growth in operating costs. According to the full-year results published on the Botswana Stock Exchange, Stanbic\u2019s corporate and investment banking unit recorded pretax […]<\/p>\n","protected":false},"author":84,"featured_media":47630,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,7],"tags":[233,237,234],"class_list":["post-47631","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-head-lines","tag-africa-press","tag-africa-press-botswana","tag-botswana"],"yoast_head":"\nStanbic pretax profits up 11% - Botswana<\/title>\n<meta name=\"description\" content=\"Stanbic Bank Botswana\u2019s pretax profits for the year ended December 2023 came in 11% higher year-on-year at P661.1 mil ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/botswana\/all-news\/stanbic-pretax-profits-up-11\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Stanbic pretax profits up 11%\" \/>\n<meta property=\"og:description\" content=\"Stanbic Bank Botswana\u2019s pretax profits for the year ended December 2023 came in 11% higher year-on-year at P661.1 mil ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/botswana\/all-news\/stanbic-pretax-profits-up-11\" \/>\n<meta property=\"og:site_name\" content=\"Botswana\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2024-04-26T17:54:30+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-04-26T19:01:49+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/botswana\/sites\/38\/2024\/04\/sm_1714144862.0517.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"720\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/botswana\/all-news\/stanbic-pretax-profits-up-11#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/botswana\/all-news\/stanbic-pretax-profits-up-11\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/botswana\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Stanbic pretax profits up 11%\",\"datePublished\":\"2024-04-26T17:54:30+00:00\",\"dateModified\":\"2024-04-26T19:01:49+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/botswana\/all-news\/stanbic-pretax-profits-up-11\"},\"wordCount\":261,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/botswana\/all-news\/stanbic-pretax-profits-up-11#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/botswana\/sites\/38\/2024\/04\/sm_1714144862.0517.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Botswana\",\"Botswana\"],\"articleSection\":[\"all news\",\"economy\",\"head lines\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/botswana\/all-news\/stanbic-pretax-profits-up-11#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/botswana\/all-news\/stanbic-pretax-profits-up-11\",\"url\":\"https:\/\/www.africa-press.net\/botswana\/all-news\/stanbic-pretax-profits-up-11\",\"name\":\"Stanbic pretax profits up 11% - 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