GABORONE Feb 15 The head of Standard Chartered
Botswana has resigned, the British bank said on
Wednesday, without giving reasons.
Moatlhodi Kefentse Lekaukau, who joined the Standard
Chartered Botswana in 2012 as chief executive, will
step down with effect from March 31, the bank said.
"Mr Lekaukau has successfully guided the company through the
difficult business environment of recent years, maintaining a
strong balance sheet and ensuring a balance between investment
and returns to shareholders," the bank said.
Standard Chartered Botswana, the country's third largest
bank by loan book, reported an 85 percent drop in 2015 profit to
47 million pula ($4.52 million) due to higher interest expenses
coupled with a 100 million pula impairment charge, which the
bank said was largely for one corporate client.
($1 = 10.4058 pulas)
(Writing by Tiisetso Motsoeneng. Editing by Jane Merriman)