Wednesday, January 26, 2022

Standard Chartered wholesale division targets opportunities in mining, infrastructure

Standard Chartered Bank Botswana says its Wholesale banking division will continue to execute a focused growth strategy.
Head of Origination and Client Coverage, Wholesale Banking, Kapumpe Kaunda pointed out that wholesale banking is targeting significant asset growth in the high growth areas of Diamonds and Jewellery and local corporate segments. She added that they continue to explore opportunities around mining and infrastructure.
“We offer expanded service to clients, through the global network, in the areas of commercial real estate and transport which have come into focus,” said Kaunda.
Kaunda pointed out that the bank will leverage the global network to serve the clients for both their local and international needs.  
“We aim to drive utilisation of the enhanced straight to bank electronic platform and migrate more clients for more efficient service delivery,” said Kaunda.
 Standard Chartered Chief Executive Officer (CEO), Moatlhodi Lekaukau stated that although the economic environment has been challenging the bank remains well capitalised with a robust balance sheet and is well positioned with ample liquidity to better serve their clients to achieve their growth aspirations.
“The bank enters the second half of the year with good momentum as the first half year results ended 30 June 2013 demonstrating consistent growth in both Consumer Banking and Whole Banking functions,” said Lekaukau.
He said that corporate and institutional deposits in the first half of 2013 recorded a 7 percent decrease compared to the corresponding period of 2012 as the bank continues to wind down expensive wholesale liabilities.
He added that on another hand the bank’s consumer banking deposits displayed an increase by 20 percent during the same period.
He stated that during the period under review the bank announced a renewed and strengthened customer value proposition for its SME clients taking into consideration their changing needs of working capital, business expansion, business protection and yield enhancement.
 Lekaukau said that the proposition has been enhanced to manage uncertainties and growing international trade, along with dedicated service and an on-line banking platform tailored specifically for SMEs.
The bank has recorded a double digit income growth for the first half of 2013, with total income up by 11 percent to P 483 million which was driven by strong growth in both Consumer Banking and Whole Banking revenue.
The bank’s half year financial result for the period ended June 30th 2013 saw Consumer banking delivering 12 percent incremental revenue and Wholesale Banking is up by 10 percent.
The balance sheet did strengthen with loans to customers increasing 26 percent to P 5.7billion and deposits from non-bank customers rising 5 percent to P 7.7 billion.
The bank’s operating expenses increased 10 percent due to controlled business growth while loan impairment for both businesses is said to be well managed.

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