Botswana

Standard Chartered Bank Botswana

Standard Chartered Bank Botswana (SCBB) has been cited for the award this year not only because of a fine performance in 2002 but also because of its impressive know-how in the capital markets area.

The bank, whose high-degree of automation gives it a big competitive edge against rivals, had an increase in net profit of above 30% for the second consecutive year in 2002 while raising ROE to 75% from 56% in 2001.

SCBB also demonstrated its know-how in capital markets last year by raising P75m ($15.5) via a bond issue. Indeed, its treasury department is considered to be a leader in Botswana in terms of bond issuance.

The bank’s superior technology helped it to increase retail deposits to P1bn and guard against non-performing loans in 2002.