- Normalised PBT up 53% year-on-year
- Income up 11% year-on-year
- Says its loan book is “one of the best in the market”
Standard Chartered Bank has delivered a strong set of results for the first half of the year but experienced a 6 percent decline in profit before tax (PBT) to P71 million.
Speaking at a press conference in Gaborone this week, the bank’s Chief Financial Officer (CFO), Tapiwa Butale, said the decline was due to normalisation of its impairment performance.
“Our normalised PBT performance is actually an increase of about 53 percent on a yearly basis,” she explained.
The surge in funding costs on the back of reduced market liquidity impacted performance in the first quarter. During the first half of the year, StanChart’s income grew by 11 percent y/y underpinned by growth across all segments.
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