Stanchart profits up 20 percent
source: Mmegi
BRIAN BENZA
STAFF WRITER
Standard Chartered Bank Botswana has released a healthy set of financial results for the first three quarters of the year ended 30 September 2007, in which profit after tax increased by 20 percent in comparison with the previous period.
The oldest bank in the country realised an income of P463.3 million in the review period, up 12 percent from the same period in 2006. Standing at 71.25t compared with 61.86 thebe last year, Earnings Per Share (EPS) were also up by 20.02 percent.
The release of the impressive results is expected to boost performance of the bank on the BSE after sustaining some heavy battering in the last few months due to a self-correction exercise by all financial institutions. However, if previous trends on the market are anything to go by, a share price resuscitation driven by the good results is far from guaranteed.
Over two months ago, Stanchart released impressive half-year financials, but the bank’s share price tumbled on [continue reading]
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