- Projection translates into profit before tax of between P59m and P118m
- Bank makes cautionary statement to meet Section 9.8 of BSE Listing Requirements
GAZETTE REPORTER
Stanbic Bank Botswana Limited has issued a cautionary announcement indicating a prospective surge of more than P50 million in profit before tax for the year ended 31 December 2023.
Stanbic Bank has promptly disseminated the cautionary announcement via XNews in order to be in compliance with Section 9.8 of BSE Listing Requirements, as it possesses potentially price-sensitive information.
“The profit before tax for the year ended 31 December 2023 is expected to be between 10 percent and 20 percent higher than that reported for the comparative period ended 31 December 2022.”
Debt securities
Accordingly, this projection translates into a profit before tax ranging from P59 million to P118 million, indicating a significant surge from the P594 million reported for the previous year.
In the statement, Stanbic assures stakeholders that comprehensive details regarding this performance will be disclosed in the audited financial statements for the year ended 31 December 2023 that are slated for publication by 31 March 2024.
Accordingly, Stanbic advises holders of debt securities to exercise prudence when engaging in transactions related to the company’s debt securities until a comprehensive announcement is made.
20 African countries
Stanbic Bank Botswana is part of the Standard Bank Group, Africa’s largest bank by assets. The Group has direct, on-the-ground representation in 20 African countries.
Standard Bank Group has approximately 1 200 branches and over 9 000 ATMs in Africa, making it one of the largest banking networks on the continent. It provides global connections backed by deep insights into the countries where it operates.
Stanbic Bank Botswana provides the full spectrum of financial services. Its Corporate & Investment Banking (CIB) division serves a wide range of requirements for banking, finance, trading, investment, risk management and advisory services.
Global markets
The range of products and services covers: investment banking, global markets, and global transactional products and services.
Stanbic’s CIB expertise is focused on industry sectors that are most relevant to emerging markets. It has strong offerings in mining and metals, oil, gas and renewables, power and infrastructure, agribusiness, telecommunications and media, and financial institutions.
Stanbic Bank Botswana’s Personal and Business Banking unit (PBB) offers banking and other financial services to individuals and small-to-medium enterprises.
PBB serves an increasing need among Africa’s small business and individual customers for banking products that can meet their shifting expectations and growing wealth.