It is hard to ignore a bank reporting a 95.9% return on shareholder equity, but that is just one outstanding feature of Standard Chartered Botswana’s impressive performance in 2005. Net revenues were up 21%, profit after tax was up 34% and dividends per share were up 35%. In addition, assets increased 32% to P4.7bn ($856.8m). Operational efficiency was also improved, with the bank’s cost/income ratio falling to 40.6% in 2005 from 46.8% the year before.
“Standard Chartered has been transformed and is a very different bank from three years ago. We now have two very distinct businesses, the wholesale bank and the consumer bank, and both are performing very well,” says CEO Nigel R Jones.
“Both have clear strategic management and focus, positively affecting our positioning and branding, and ensuring new products are brought to market faster,” he says.
On the retail side, Standard Chartered has targeted the largely untapped but emerging SME sector; it has increased its mortgage book; and with a rise in household savings, it has pushed wealth management products.
It has been no less active in serving corporate clients, advising and financing clients participating in the government’s infrastructure programme.
