Trending News
  • Chinese community donates blankets to OP OEMELENNA MMANOKO   Minister of Presidential Affairs Nonofo Molefhi has acknowledged the Chinese community’s contribution to social wellbeing of Batswana after they donated 2 500 blankets worth P500,000 to the Office...
  • Crosbie’s Desert Race participation in doubt Still waiting for doctors clearance 2019 Dakar Rally his main priority TLOTLO KEBINAKGABO Local motorcyclist and the first Motswana to compete at the grueling Dakar Rally Vincent Crosbie is still...
  • TK accepts defeat over Magosi THABO BAGWASI The Minister for Environment, Natural Resources Conservation and Tourism Tshekedi Khama has filled in the blanks in a high level operation that led to the ousting of former...
  • Tlou Energy equity placement to raise P19 million Launches a non-renounceable entitlement offer for a further P44 million   OAITSE MATHALA   Tlou Energy Limited, a Botswana Stock Exchange listed company focused on delivering power in Botswana and...
  • BDP rakes in over P5 million in 2 days THABO BAGWASI The Botswana Democratic Party (BDP) has raked in over P5 million and new members in one fell swoop in a single weekend. BDP top czars made a multi-million...

Standard Chartered reaches a new 10 Year Low

Standard Chartered reaches a new 10 Year Low
June 13
07:02 2018
  • Closes branches that are not performing to par


Standard Chartered, was on the chopping block this week, losing 44 thebe as 223,064 of its stock crossed the board. The local bank’s share price took a major knock, depreciating by 8.9% to record a new 52 week low of 450 thebe. This is the lowest price the stock has had in the last 10 years of being listed on the exchange.


Standard Chartered, has in the several years posted increasingly declining profits and for the financial year ended December 2017, the group posted a loss of P189.3mn, a 337% decline from the previous year’s profit of P79.7mn. The management of the company has however noted that the loss came as a result of an impairment adjustment attributed to a single client.


The group has not been immune to the challenges faced in the banking sector and was further troubled when the central bank cut the bank rate to 5% in late 2017. Standard Chartered have indicated that they are going through a process of cutting their losses, which involves closing down a few of their local branches that are not performing to par throughout the country.


Speculators are wagering on the recovery of the stock and despite the losses, the company still has the highest dividend yield amongst its peers in the banking sector of the local exchange. (Motswedi Securities)

About Author



Related Articles