GABORONE, Feb 15 (Reuters) - 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)