sister jabou, i overstated the profit of standard bank.
here is the news item
cutesy of the observer.
Standard Chartered holds 30th AGM
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africa » gambia » kololi Monday, April 21, 2008
Standard Chartered Bank, Gambia Ltd, last Thursday held its 30th Annual General Meeting at the Kairaba Beach Hotel in Kololi.
Delivering his statement at the AGM, Momodou B.A. Senghore, chairman of Standard Chartered Bank(SCB), said Standard Chartered has shown how its position in the world’s growth market and the strength of its balance sheet can deliver record results during turbulent times.
“Profit before taxation is GMD 169.747 million. As a result of this performance, the board is recommending a final dividend of GMD 72 million or 120 bututs per ordinary share in addition to the interim dividend of 50 bututs per share already paid out in September 2007”, SCB’s Board Chairman noted.
He added “valued shareholders, you will agree with me that 2007 posed its own challenges but I am pleased to note that with the bank’s commitment to its strategy, the steadfastness of management and staff as well as the continued support and loyalty of our customers, we were able to deliver these results in an increasingly competitive environment”.
According to B.A. Senghore, Standard Chartered Bank is in good shape for future growth and that, performance continues to be strong. “Our Group Strategic Intent remains unchanged; “to be the World’s best international bank leading the way in Asia, Africa and the Middle East’. We remain committed to our strategic intent and through diversity and inclusion within the Group and leverage on expertise from a diverse workforce”, he revealed.
For his part, Humphrey Mukwereza, CEO and managing director of Standard Chartered Gambia said the results for the year ended 31st December, 2007, reflects the high performance of the Bank in a highly competitive environment. “We won the best Foreign Exchange Bank Award from Euro Global Finance, demonstrating our leadership position and our commitment to lead by example to be the “Right Partner” to all our customers and stakeholders”, he revealed.
According to the Standard Chartered CEO, the major challenges of the bank in the year under review hinged around operational risk management of non performing loans, service quality and deepening client and staff engagement. “The period witnessed a decline in interest rates and shrinking margins. However, despite these market changes, we were able to sail through and deliver a set of satisfactory results’, he added.
Abdoulie Touray, CEO of Sahel Investment and Chairman of the University of The Gambia Governing Council delivered the vote of thanks.
SUNTOU TOURAY <[log in to unmask]> wrote:
You are right sister jabou. did you read the point news paper's profit report of standard chartered bank this week? i believe it is in the region of D600million. one of the bank's ex-employee told me that ''the bank has now refuse giving loans to its own staff" this is due to heavy indebtedness by the bank's own staff themselves. some thing is smelling.
[log in to unmask] wrote: It's good education for all of us Suntou. I think the proliferation of all those banks in Africa suddenly is another angle to the same game.
Jabou
-----Original Message-----
From: SUNTOU TOURAY
To: [log in to unmask]
Sent: Fri, 16 May 2008 12:59 am
Subject: Re: Fwd: Economic Gangsters
interesting sister jabou. well done.
[log in to unmask] wrote: The pen is indeed mightier than the sword.
Bankers figured that out a long time ago.
And when loans don't work, bullets are a good
back up.
How the game works from someone who played
it from the inside.
http://www.brasschecktv.com/page/317.html
- Brasscheck
- Brasscheck
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