Rédaction Africa Links 24 with The Africa Links 24
Published on 2024-03-28 06:32:54
Stanbic Bank Botswana Limited has recently issued a cautionary announcement, anticipating a significant increase in profit before tax for the year ending on December 31, 2023. The bank expects this increase to be between 10 percent and 20 percent higher than the profit before tax reported for the same period in 2022. This projection translates into a profit before tax range of P59 million to P118 million, a substantial surge from the P594 million reported in the previous year.
In compliance with Section 9.8 of BSE Listing Requirements, Stanbic Bank promptly disseminated this cautionary announcement through XNews to ensure that all potentially price-sensitive information is communicated to stakeholders. The bank assures stakeholders that detailed information regarding this performance will be disclosed in the audited financial statements for the year ending on December 31, 2023, expected to be published by March 31, 2024.
Stanbic Bank advises holders of debt securities to exercise caution when engaging in transactions related to the company’s debt securities until a comprehensive announcement is made. The bank emphasizes transparency and adherence to regulations to ensure all stakeholders are well-informed.
Stanbic Bank Botswana is part of the Standard Bank Group, Africa’s largest bank by assets, with direct representation in 20 African countries. The Standard Bank Group boasts a vast banking network with approximately 1,200 branches and over 9,000 ATMs across Africa, providing global connections and deep insights into the countries where it operates.
The bank offers a wide range of financial services, including Corporate & Investment Banking (CIB) services that cater to banking, finance, trading, investment, risk management, and advisory needs. The CIB division’s expertise is focused on crucial industry sectors in emerging markets, such as mining and metals, oil, gas, renewables, power and infrastructure, agribusiness, telecommunications, media, and financial institutions.
Additionally, Stanbic Bank Botswana’s Personal and Business Banking unit (PBB) provides banking and financial services to individuals and small-to-medium enterprises. PBB aims to meet the evolving needs and growing wealth of Africa’s small business and individual customers by offering tailored banking products and services.
Overall, Stanbic Bank Botswana’s cautionary statement reflects the bank’s commitment to transparency, compliance, and responsible financial management. As the bank anticipates a significant increase in profit before tax, stakeholders can expect detailed information in the upcoming audited financial statements, ensuring transparency and accountability in all financial dealings.
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