But Pula deterioration reduced loans by 4.7%
COVID-19 pandemic overwhelms group
editors@thepatriot.co.bw
Bank Gaborone has contributed immensely to revenues of its parent company, Capricorn Group increasing gross loans and advances by 2.3% to P4.8 billion during six months ended 31 December 2020.
The group says due to a deterioration of the Botswana Pula, its loans and advances decreased by 4.7% in Namibia Dollar terms with Group, adding that the Entrepo’s book loan grew by 10.6%.
Bank Gaborone, a wholly-owned subsidiary of Capricorn Group, also contributed very significantly towards financial performance of the Group last year, boosting key aspects of the revenues.
Capricorn Group is a diversified holding company operating in Botswana, Namibia and Zambia. The bank’s non-performing loans increased by 15.3% to P291.2 million as compared to P256.6 million posted in 2019; this therefore showing the resilience of the business in boosting group.